Should we have a death tax? - part 2 - Why have an inheritance tax and does it work?
The second in a two-parter where we discuss taxes and specifically inheritance tax. The series explores why taxes make sense at all, and then apply this thinking to inheritance tax - both whether it meets the ideological/moral aims we have for taxes more generally, and indeed whether they seem to actually effectively meet their intended aims!
In this episode, we get into the specifics of inheritance tax - context, policy, ideology. We discuss the intended moral impact of inheritance taxes - avoiding the "paris hilton" effect, a country with too many indolent heirs and landed aristocracy - and also the policy implications, which have some surpising differences vs the ideology. Who's actually paying inheritance tax? Is the law too complicated? Do the rich, with their offshore accounts and tax advisors, even pay it?
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