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It's that concentrations of wealth that persist in a family for generations are unproductive. Tax money that they don't pay has to come from others in society - others who often just barely get by themselves.
do you think they have all of the money under the bed and hidden in closets? That money is used to generate income which is then after paying costs, taxed. The profit is re-invested, then after costs taxed again. Current long term capital gains tax is
2005, the maximum capital gains rates are 5, 15, 25 or 28 percent.per the IRS so on top of sales tax, property tax, tax tax you wish to impose draconian fees on the rich when they die. That is social engineering. Think of all the accountants, lawyers, secretaries, file clerks, janitors, maids, drivers, cooks that you will throw out of work because the person they work for is unproductively wealthy, Sorry I dont by into that.If you barely get by with 40k a year for a family of 4 then you are not paying much income tax anyway so taxing the wealthy on death wont help those folks "who are barely getting by"
thanx,
bill