Another issue with double-taxing estates is that it de-incentivizes people to save. The less people save for their own retirement, the more they must rely on the state to support them. As life expectancy continues to lengthen, the amount of time people are 'retired', along with the number of people in retirement, both continue to climb. If we devalue personal savings, we put more pressure on the public cost of supporting retirees.
We need to encourage more personal savings, not devalue it.
|