The Case for Higher Estate Taxes
Smart economic policy should aim not only to reduce inequality, but also to steer resources toward productive forms of wealth creation, while limiting less productive forms. And, because inheriting money does little to stimulate growth, an attractive set of measures are estate and inheritance taxes.
WASHINGTON, DC – According to conventional wisdom, inequality is an inevitable byproduct of strong economic growth. Talent, innovation, and entrepreneurship will inevitably capture the lion’s share of the income being generated, and efforts to redistribute wealth can only be counterproductive, because they weaken the incentives that drive an economy forward.