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[quote=Anonymous][quote=Anonymous]Can someone explain the rationale/justification for exempting the inheritance of the sovereign’s estate from the 40% inheritance tax that applies to everyone else? Does the sovereign need so much independent wealth to avoid being beholden to any legislator and he truly independent? It doesn’t make sense from a legal or policy perspective.[/quote]

I’m anti-monarchy and pro-estate tax but this actually makes some sense to me.  In ordinary cases, it’s common for the one inheriting to sell off some of the property to pay a large estate tax.  They can’t do this, as they are prohibiting from selling the property.  They don’t have the whole bundle or property rights.

But I also think it’s a bit rich when people say “oh but it’s their private property.”  I mean, I guess so.  But only because they inherited it through an insanely rigid system of primogeniture that initially sprung from a might makes right acquisition of the land from others.  I guess most property rights are similar — in that the original property owner always either stole the land or just accouncee it as their own.  But this is the most extreme example.[/quote]

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