#deathtax — Public Fediverse posts

@rbreich Rich brats are a threat to civil society. Resurrect the billionaire #deathtax.

Only a #Tory can look at a massive widening of wealth inequality due to coming inheritances and say £10k ought to do. 🤣

Of course, the real answer is #WealthTax now and higher #DeathTax at inheritance.

#WealthInequalityEndsWhenWeTaxTheRich

https://www.theguardian.com/politics/2024/mar/02/tory-peer-calls-for-10000-citizens-inheritance-for-all-30-year-olds

This article examines the problem of inherited controlling shares leading profitable companies to be led by 'idiot heirs.'
It points out that "...asking investors to put eternal trust in corporate royalty is antithetical to the values of Americans."
Indeed.
What the article fails to recognize is how all intergenerational wealth transfer perpetuates this problem. Rich folks pass their stock ownership and their wealth to their children who then also have disproportionate control over public companies.
Furthermore, I would say our entire model of business ownership is un-American: why does a single individual get unilateral control over the cooperation of all workers based on showing up first or buying it from the person who did?
#DemocracyAtWork #Coop #DeathTax #NationalTrustFund #BabyBonds

https://finance.yahoo.com/news/idiot-heir-brings-down-entire-140000978.html