I mean, if we could easily change laws, we wouldn’t need to murder a bunch of rich people, just seize any assets that exceed a certain limit (a wealth cap essentially) and call it a day. No bloodshed. Frankly, I’m not a fan of violence if there is a peaceful path.
If we’re waving magic wands around, change the tax laws to limit how much you can inherit.
Changing the step up basis thing is actually pretty low hanging fruit.
https://www.investopedia.com/terms/s/stepupinbasis.asp
https://smartasset.com/investing/buy-borrow-die-how-the-rich-avoid-taxes
I mean, if we could easily change laws, we wouldn’t need to murder a bunch of rich people, just seize any assets that exceed a certain limit (a wealth cap essentially) and call it a day. No bloodshed. Frankly, I’m not a fan of violence if there is a peaceful path.