[extropy-chat] Why I am No Longer a Libertarian Either...

[Brent Neal]

 (7/27/05 22:00) The Avantguardian <avantguardian2020 at yahoo.com> wrote:

>3. Place a cap on inheritence of capital by any one
>descendent of one home and $1 million in assests,
>liquid or otherwise. If someone can't make it with a
>head start like that, they're a feeb and need to get
>weeded out.  

See, though, the problem with your plan here is static thinking. Inflation/deflation, cost of capital, etc. will change the effectiveness of $1M a good deal over time.

Personally, I'm absolutely against all sorts of inheritance taxes. All they do is create a grey market industry in "estate management," thus siphoning off a good deal of money that could be used elsewhere.  Inheritors are often just as effective at whittling down fortunes as the government is and why on earth should we penalize families that drum fiscal responsibility and good stewardship into their offspring?

B
-- 
Brent Neal
Geek of all Trades
http://brentn.freeshell.org

"Specialization is for insects" -- Robert A. Heinlein