Reply to Can I afford a 1.8M house?

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[quote=Anonymous][quote=Anonymous]The PP who is anti-inheritance does not seem to understand human nature.

One of the main reasons people work hard and thereby contribute to productivity of the economy is to provide for their children.  This may be during their lifetime or after they die.  This is a deeply ingrained instinct in the human race.

If the state overly limits transfer of wealth to children (or to charity as another poster has raised), many people simply would not exert the additional effort and simply rest on their laurels once they had enough money to see themselves comfortably to death.

Stymieing the energy and productivity of these people in this way would lower the overall productivity of the economy.  The extra money would not go to educate disadvantaged children or provide other government services as PP thinks because there would be no extra money.

[/quote]

I understand both human nature and the tax code.  (I also understand how to use the quote function, but that's another matter.)

No one is talking about confiscating entire estates.  (Well, I'm not anyway).  But why can't estates be taxed as ordinary income, with progressive rates?

Also, the notion that people (i) only have one motivation, and (ii) will just sit with their feet up on the sofa if if they aren't permitted to pass along millions to their children seems . . . well, I'll be nice and say overly simplistic.  [/quote]

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