Why not fund the welfare state with a 100% inheritance tax?
Inheritance tax is toxic. We need new ways to tackle inequality
Inequality is absolutely unavoidable in any organized society, and inequality of power over the means of production is just as inevitable whether under capitalism or the most thorough socialism.
But in contrast to socialism and the dreams of some egalitarians, capitalism privatizes and thus very effectively disperses power over the means of production, and that is its virtue.
A virtue the abolition of inheritance would go way too far to undermine.
I don't think The Guardian - or maybe it's just their readers - quite gets that.
Too many people still dream of egalitarianism and Utopia, socialist or anarchist, and a lot of them seem to either work at or read The Guardian.
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