I read and I listened, and then I read some more. Still, nobody has been able to convince me that any system of taxation is fairer than a 15% flat tax on everybody but the people below the level of poverty and on every kind of income.
At the same time, I believe that any inherited wealth should be taxed at 90-95%.
You see, I’m opposed of depriving people of what they made to an excessive degree. But if the people who made the money aren’t there, then there is no unfairness.
I also believe that the rights to a work of art or intellect should revert to the society as a whole upon the creator’s death.
Clarissa's Blog 
// I also believe that the rights to a work of art or intellect should revert to the society as a whole upon the creator’s death.
I think some authors continue to create till death also because of their desire to provide for their families. If your idea is applied, some works possibly wouldn’t be created.
Interesting, whether it would affect publishers’ readiness to promote books of old authors.
// I believe that any inherited wealth should be taxed at 90-95%.
Will never happen. But were it applied, it would only have led to 1001 ways of evading the law (giving as a gift when a parent is still alive, co-ownership of a house, etc) And rich people would move their assets from USA.
I also disagree with it. F.e. in Israel paying off a flat takes 28+ years for many poorer people. You pay it off from ~30 till ~60 (some of my relatives were dead soon after reaching the age). Why buy a flat, if your children won’t benefit from it, and the flat wouldn’t be yours anyway till your death?
You talked how capitalism needs people buying a lot of stuff, and one of reasons for buying is desire to benefit future generations. For instance, we rented a flat from a brother and a sister, whose mother died. Getting the rent and dividing it may help them pay off loans of their own flats. Housing prices in Israel continue climbing all the time, and buying a flat is harder and harder. Remember those adults still living with their parents because of the crisis? Should they (possibly unemployed and you talked how their number is climbing and will continue to do so in a new age) be sent to live on a street after parents’ death, away from the flat in which they grew up?
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“I think some authors continue to create till death also because of their desire to provide for their families. If your idea is applied, some works possibly wouldn’t be created.”
– I know enough writers to have figured out that they create because they can’t help it. 🙂 In a real artist, the need to create art is stronger than anything else. It’s like my need to do research. I can rationalize, but the truth is that I need it for me.
“Interesting, whether it would affect publishers’ readiness to promote books of old authors.”
– I believe that the books by dead classics should be published by the state and all revenues should go to support public education.
“Why buy a flat, if your children won’t benefit from it, and the flat wouldn’t be yours anyway till your death?”
– I’m signing the papers on the new house today, actually, and I can answer. There is a likelihood I’ll never see it paid off. There is also a likelihood there won’t be any children to benefit. But I’m in it for the process. And so is pretty much everybody I asked.
“Should they (possibly unemployed and you talked how their number is climbing and will continue to do so in a new age) be sent to live on a street after parents’ death, away from the flat in which they grew up?”
– I have met several people who inherited big money. And I mean BIG MONEY. A sadder bunch of miserable folks with no purpose in life but to get high could hardly be found.
I know this guy who has 5 kids. He raised three of them in extreme poverty. They all grew up to be extremely happy, successful, well-adjusted people. This guy started a business, did extremely well in his middle age and raised the two youngest kids in very comfortable economic circumstances. They are both now shiftless, useless prince and princess who are not likely ever to get a job or even try.
Inherited wealth is a blight on people. It so happens, for some mystical reason, that I constantly end up around very rich people. Been like this since my childhood. And what I’m seeing is that people who are making the money are all fine. Their children are not as fine. And their grandchildren is completely miserable.
The only exception I know is a family where the kids were cut off financially by the parents at 18. Those are flourishing.
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Got to college thanks to inherited wealth. Yes in theory I could have gotten myself emancipated and qualified for FA, or worked my way through, but it would have hurt my mother so much that I would not have done it. The fact of inheriting college money, money earmarked college, made it possible to go and to save my sanity therefore. I LOVE inherited wealth. Then there is my friend who inherited a house which made it possible to take an academic job in a city she loves but could not otherwise have afforded. Again, I LOVE inherited wealth. Sure, everyone should have some, but lots of people do have small windfalls and I do not begrudge any of them.
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If you are so attached to inherited wealth, then you can imagine how attached people get to the money they made. This brings us to a dead end where the only solution is to abolish all taxes altogether.
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Not everyone makes major money. If my child cannot inherit the house, I am not sure she will, in this economy, have a place to be old in, and it is where she grew up. And as noted above, it would be so easy to get around this.
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Somehow I assumed the 95% would be for large estates
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