As most of us have witnessed most of the problems in life are being created by the ultra wealthy, with old money. This is the perfect time to tax an individual, limits should be set to what can be passed down to children, and any funds over a certain threshold should be taxed, at least until our budget is balanced.
With this in mind, charity funds like the Gates Foundation should be banned! This is nothing by a scam to avoid tax, where money is being spent on initiatives that harm the public.
In most cases, or more often than not, a young child who grows up with the silver spoon becomes spoiled, and often rotten. Take a look at the Rockefeller, Gates, Bush, Soros, Clinton’s, Rothschild families as examples.
Every man should experience working for their own livelihood.
I’d limit to lifetime, foreign investment is good. But foreign countries like China have no business buying farm land, this should be banned.
And everyone (billionaires) should have a cap on the amount of land owned. People like B Gates have no business owning farm land, & I get this is a tricky issue, but the cap would prevent the ultra wealthy from taking opportunities form the avg Joe.
Gates. Clintons and Soros did not have rich parents, but they are the cause of many of our current problems. Not sure what you gain by encouraging successful people to spend all they can before they die. Also you will bankrupt and destroy all family farms and most small businesses. Dolly is super-wealthy and super-generous… Just a few examples.
More will come out on the 3 names mentioned in time, and yes, they were very well connected when it comes to money. Here’s a clip on Gates: x.com
Also nothing was mentioned about taking ALL wealth or even farm-land from a family, but setting limits for extreme wealth. If children can’t maintain what they’ve been given, it’s better it goes to someone else. Too many in this country worship wealth as if it’s some great god, it’s never granted happiness & never will.
Learning the basics in earning your own livelihood is blessing to everyone, including the child born into wealth. Aside from that, this country has a massive debt, & the transfer of wealth from poor & middle class to the rich was intentional. One way or another this should be corrected and a death tax is one way to do it.
Many think they are doing some great favor to pass on a giant pile of money to their heirs, when in reality it’s a curse for most children. Given your children Love, teach them to be kind & honest, the money you give to them will be worthless with a proper foundation.