Re:The Greatest Wealth Transfer in History Is Here, with Fam...
by jules on Sunday May 14, 2023 @10:44AM
(#35938388)
Encouraging people to frivolously spend on luxury instead of save is a terrible idea.
Re:The Greatest Wealth Transfer in History Is Here, with Fam...
by jxidjhdhdhdhfhf on Sunday May 14, 2023 @11:40AM
(#35938786)
You just described the entire economy. It's worked out pretty well actually. All spending is someone else's income, which can then be taxed again.
Re:The Greatest Wealth Transfer in History Is Here, with Fam...
by jules on Sunday May 14, 2023 @12:05PM
(#35938966)
By spending on luxury such as expensive restaurants and hotels, you cause the economy to allocate talent and capital toward the production of those luxury goods and services, rather than toward longer term investment. Making it so that old people burn up their built-up wealth in that way is not good. It would be much better to gather the equivalent amount of tax elsewhere, if you insist that we must do so (such as with a VAT on luxury goods and services!).
Re:The Greatest Wealth Transfer in History Is Here, with Fam...
by legolas2412 on Sunday May 14, 2023 @03:50PM
(#35940835)
Encouraging rich people to spend, and using that money to better support poor and working class people is a great idea.
Not to mention the increased taxes will be paid back, at least to some extent, in enhanced services. Maybe your kids could get a free education and free healthcare instead of $1M each in inheritance.
Or instead of increased services, we could tax other things less such as the income of living people. I'd much rather have dead people, who have zero use for the money getting taxed more and living people, who actually can make use of the money getting taxed less.