Dr. Martin Hash Podcast

Even with the Top 1% paying almost half the Income taxes collected, wealth concentration is still increasing; they now own more of the country's wealth than in the past 50 years. Increasing wealth disparity is a side-effect of Capitalism, and to be expected, and if it's not alleviated through some kind of redistribution, an aristocracy forms. A lot of people have no problem with an emerging aristocratic class; the same kind of people who don't much like democracy or Welfare. Even people who don't pay taxes, and benefit from the taxes of others, are willing to accept this Nouveau Aristocracy. In fact, it's the single most defining feature of the Republican Party.

Assuming that somehow people could be convinced that it's in the best interest of the country to avoid aristocracy; how do you stop it? The socialists blame Capitalism and want to end it. That's the kick-over-the-apple-cart solution from a growing minority, perhaps 30%. Probably, the number of people who accept an aristocracy are equal to the socialists, which leaves perhaps 40% of the people to find a center way; no rising aristocracy, no rising Marxist rebellion against it. The easiest, most effective plan would be to let people get as rich as they want during their lifetime but when they die, their wealth gets redistributed; more to their heirs than others but limited, probably the current caps of $8 million to heirs and $1 million on gifts to anyone else. The heirs won't like it but they didn't accumulate the money, and the person who did is gone. Everyone else celebrates because they may just win the inheritance gift lottery when the rest is given away.