[westopher]

Originally Posted by Traum

Parents regularly give money to their children regardless of whether they are minor or adult children, and people regularly give money to their lovers and such as well. It is money changing hands and ownership as well. But no government would dare to try imposing a tax on this sort of transactions, nor is it possible (practical / viable / enactable) to do so.

So why should it be any different just bcos the giver is dead? The taxation can be easily avoided by simply giving the money away before the giver dies. So I don't really see the point of legislating something like an inheritance tax or probate fee when such an easy and entirely legal workaround can be used to avoid the tax.

Consumption tax is not necessarily a bad thing. Essential items should not get taxed, and we practice that to a certain extent here in Canada.

You are correct that generational wealth is spiraling out of control, contributing to an ever worsening wealth inequity around the world. However, I don't believe in inheritance tax or probate fees being the solution to address this. IMO a far more effective solution would be a general wealth tax, ideally one that involves as many countries in the world as possible. (But of course, that'll never fly.) The rationale for that is pretty simple -- when you become sufficiently wealthy, society expects you to bear a greater responsibility to look after the well being of other less fortunate individuals.

Oh hell yes give me that wealth tax and everything I wanted is taken care of. We agree 100% on that.