Dr. Martin Hash Podcast

In America you have the right to accumulate as much money as you possible can during your lifetime. You can spend it as frivolously, as consumptively, or as benevolently as you want. But you do not have the right to create a fiefdom for your heirs. If your sons & daughters have the merit to rebuild on your remaining empire after you're gone then all power to them, but they’re going to have to be almost as good or lucky as you were. Redistribution of wealth through inheritance taxes is not an ethical issue, it is essential to the stable continuation of this nation. It’s a matter of economics and predictable human response, not socialist moralizing.

100% inheritance tax is the answer... Well, almost, you do have a reasonable expectation to give your immediate descendants a leg up on life, part of the lucktocracy, but that number would be a conscientious amount, enough that the heir would not have to work during their lifetime if they didn't want to. And the remaining money should not to go to government, but it does need to be redistributed to make way for the next generation of entrepreneurs, so let the decedent give away all their money in relatively small chunks to whoever they want, it was their money after all. For some wealthy people, that could be random, like all graduating students from MIT get a million dollars, or everybody named after the decedent has a reason to be happy about the legacy. How many kids named “Bill Gates” do you think would be born next year if that were the case?