Samsung group chairman Lee Kun-hee has died

Re:Samsung group chairman Lee Kun-hee has died by adventured on Sunday October 25, 2020 @03:21AM (#24884442)

> 50% Inheritance tax would do wonders in the US.

The US is already at 40%. The Feds want 40% of anything over $11.58 million when you die.

Going to 50% isn't going to do wonders.

If you wanted to severely adjust the wealth inequality caused by the extreme wealth of the top 0.01%, you'd want a 80% or 90% rate.

Increasingly the US Senate is rich enough it'd never be allowed to become law.

[ Parent | on HN ]

Re:Samsung group chairman Lee Kun-hee has died by athms on Sunday October 25, 2020 @10:34AM (#24886586)

Only 0.002% of estates pay the tax every year. Among the wealthy that are close to retirement or death, the smart ones transfer their wealth to insurance or separate entities like a foundation, limited liability company, family limited partnership, or charitable trust.

[ Parent | on HN ]

Re:Samsung group chairman Lee Kun-hee has died by sokoloff on Monday October 26, 2020 @09:57AM (#24896189)

That is wrong by a factor of ~100. 0.2% of estates in 2017 paid an estate tax. [0]

[0] - https://www.cbpp.org/research/federal-tax/ten-facts-you-shou...

[ Parent | on HN ]