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People think that they're taxing the mega rich, and getting a benefit... NO! That's not what happens.

Here's what happens:

  • The mega rich hide their money, and don't pay inheritance taxes.

  • The moderately successful, low-figure millionaires are the ones that have to pay inheritance taxes. And it's stupid because: A) They're being double-taxed. B) The mega rich acquire their assets.

So, in effect, inheritance tax transfers wealth to the mega rich, and big corporations. When a farmer's kids have to sell the farm to pay inheritance tax, the people on the lower end of society don't beneft. The farm is going to by scooped up by mega corporations, who will then tighten their control on society. It doesn't have a benefit to the plebs.

People think that they're taxing the mega rich, and getting a benefit... NO! That's not what happens. Here's what happens: - The mega rich hide their money, and don't pay inheritance taxes. - The moderately successful, low-figure millionaires are the ones that have to pay inheritance taxes. And it's stupid because: A) They're being double-taxed. B) The mega rich acquire their assets. So, in effect, inheritance tax transfers wealth to the mega rich, and big corporations. When a farmer's kids have to sell the farm to pay inheritance tax, the people on the lower end of society don't beneft. The farm is going to by scooped up by mega corporations, who will then tighten their control on society. It doesn't have a benefit to the plebs.

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[–] [deleted] • 0 pt

The mega rich have so many tax dodges it's insane. That's one reason CA is so fucked up. There are a lot of mega rich there and that's factored into the tax rate and public spending but they end up never having to pay so the middle class and poor can't afford anything because of taxes.

Why do you think Howard Hughes spent so many years living in hotels? He sure as fuck wasn't going to pay taxes.

[–] • 0 pt

I'm pretty sure what fucked Cali is that they need referendum to increase taxes and referendum to increase benefits and social programs. So even if taxes are already really high, people vote to increase programs and benefits, but turn down new taxes, leading to more deficits. (obv, lots of loopholes)