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A comment on Chuck Feeney Is Now Officially Broke. Parent comment

Re:Chuck Feeney Is Now Officially Broke by niij on Tuesday September 15, 2020 @03:53PM (#24485975)
The same could be said about people who want to take other's money away. People are spend-thrifts enough as it is, a wealth tax just dis-incentivizes being fiscally responsible.
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Re:Chuck Feeney Is Now Officially Broke by Mandatum on Tuesday September 15, 2020 @10:34PM (#24488996)
How about a wealth tax on everything above $10MM?

Suddenly 99% of the world is no longer discouraged from being fiscally responsible. Do I really care if a billionaire is fiscally irresponsible? Maybe for a single generation. After that, we're good.

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Re:Chuck Feeney Is Now Officially Broke by andersonvom on Wednesday September 16, 2020 @12:27AM (#24489531)
This is already how things work in the US: you only need to file if your estate is greater than 11.5MM as of 2020 [1].

"As a result, only about 2,000 estates per year in the US are currently liable for federal estate tax." [2]

The argument that it "discourages living frugally" is just complete nonsense.

[1]: https://www.irs.gov/businesses/small-businesses-self-employe...

[2]: https://en.m.wikipedia.org/wiki/Estate_tax_in_the_United_Sta...

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Re:Chuck Feeney Is Now Officially Broke by niij on Wednesday September 16, 2020 @12:49AM (#24489627)
What GP proposed was a Wealth Tax which is an additional tax on _living_ people who have a net worth over a certain amount.

What you linked is an Estate Tax (aka death/inheritance tax) which only applies when someone passes wealth on after death. If they decide to give all their money away to charity or otherwise spend it while they're alive it does not apply.

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