A new report estimates that $21 trillion of that wealth will pass internally within America’s already dynastically wealthy families between now and 2045.
The Vermont senator and former presidential candidate takes shot across the bow of the wealth defense industry.
Hint: simply increasing the progressive income tax on top earners isn’t enough.
Children born to poor parents have little real chance at becoming rich — or even middle class. A federal inheritance tax could help solve this.
We have taxes on the labor we do and another set of taxes on wealth.
Congress should reinforce the inheritance tax, not scrap it.