re: Vivek supports 59% as a minimum inheritance tax. Rich people "owe" everyone else.

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It's just a thought experiment

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If it’s a bunch of guys in a fishing boat, it’s a thought experiment. If it’s a national politician, it’s a precursor.

Guys crushing girls in women’s sports was once ‘just a thought experiment’

Yes, that how the income tax passed. It only affected the 1% at its introduction.

Vivek, like Trump, tends to try and take a populist approach. So, saying it won't bother 99% of you is the only way to sell this.

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I also am in favor of steep inheritance taxes. And I am rich. We should minimize taxes on productive people who merit their earnings, and tax the shite out of undeserving people who get handed money.

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Why should government be trusted with that money? All they will do is use that money to buy the votes of more undeserving people. In what way will government lessen the burden of the average tax payer by receiving this money? You act as if the gvt is looking for X amount of money and will stop taking when they get that X dollar amount. When I’m history have the gvt’s appetite for money every been satisfied?

If the person raised spoiled kids then the money will dry up as they waste it in the economy. It will naturally find its way to others who understand finances and they will build their wealth off these spoiled kids that have no financial discipline. The answer isn’t increasing taxes but to quit inflating prices, lessen the red tape and allow the smaller guy to build a business to compete.

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Can someone define what’s considered rich?

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Do you wear shoes? If so, then you need to pay up, Mr. Moneybags.

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Seriously one of the worst designed taxes out there, up there with the automatically deducted income tax.

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Property tax is the worst of all.

At least income tax goes away if you lose your job or become disabled.

Property tax just rolls on regardless of your ability to pay.

Y’all do understand that there are actual costs of persistently operating in a runaway debt economy, right?

Our massive debt load is sticking Americans with higher interest rates, slowing down new business investment, pushing us to being a bigger importing country, and crippling our growth potential. The long run consequences of running the economy through ever escalating debt levels are going to be brutal. To the point that not addressing them is simply not an option.

Meaning we only have two viable paths: lower spending or raising taxes. Except the problem is so bad that “or” is probably the wrong connector there… the reality is that we have dug such a big hole that we will very likely need to pursue an “and” approach. Less spending and more taxes will both be necessary just to return ourselves to a healthier growth trend.

Now on the tax side, we can either raise that tax revenue by taxing working people who are already living paycheck to paycheck (thanks in no small part to Biden’s ridiculous economic agenda), or we can raise that tax revenue by taxing the inheritance of people who are being gifted over 8 figure gifts by the actual producers who preceded them. I know which one I’m choosing.



So purely from a pragmatic perspective, a larger inheritance tax for the top 0.1% causes less harm than any alternative so far proposed. But I’m open to hearing you out on a better way to raise that tax revenue if you have one.

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Not that I support it at all...but isn't an inheritance tax on the person inheriting the money, rather than on the person who made the money?

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Technically it is a tax on the decedent’s estate. That our course eventually comes out of the pockets of the chosen heirs, but it is up to the executor of the estate to make sure the estate pays the taxes.

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So purely from a pragmatic perspective, a larger inheritance tax for the top 0.1% causes less harm than any alternative so far proposed.

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Unless you're in that top 0.1%.

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So purely from a pragmatic perspective, a larger inheritance tax for the top 0.1% causes less harm than any alternative so far proposed. But I’m open to hearing you out on a better way to raise that tax revenue if you have one.

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Vivek is wicked smart so I was wondering what the angle was for something that is not going to be well received.
It looks like he's just following the data and trying to be practical.

If a parent wants to leave their kids their money then it is not up to anyone else to have an opinion on whether or not it’s a right or wrong desire. It’s certainly not fair for the government to tax that money.

It’s already been taxed anyway.