Some people inherit money and wealth that they did nothing to earn. Why don't we tax inheritance at 100 percent?
The people who create the wealth must derive some benefit from the knowledge that it can be passed on; otherwise, they would not plan on leaving inheritance to individuals. If none could be passed on, these people would have little incentive to preserve wealth and would try to deplete it prior to death, unless they valued the idea that the government would receive it. An economy should promote policies that preserve wealth, not destroy it.
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What is viewed in the private sector as competition in the public sector is treated as _____
a. duplication b. destruction c. fighting d. economic warfare
A quota is
A) a government-imposed restriction on the quantity of a specific good that can be imported into a country. B) a tariff imposed on goods that are dumped into the home country. C) a tariff imposed on goods that are subsidized by their domestic governments and exported to other countries. D) a tariff based on the value of the imported good.
A movement from an upper point to a lower point on the Phillips curve shows
a. decrease in the inflation and decrease in the unemployment. b. increase in the inflation and decrease in the employment. c. increase in the inflation and increase in the employment. d. decrease in the inflation and increase in the unemployment.
In 2012, government income transfers redistributed what percentage of national income?
a. 1.1 percent b. 7.7 percent c. 17.4 percent d. 25.5 percent