Quote:
Originally Posted by Fuzz
But then, we know people vote very illogically in tax policy, and in this case may believe even if their inheritance is small, they don't want to risk that chance their parents win the lottery before they die. They may also not want their own inheritance taxed, in some distant future where they manage to succeed while paying high taxes to make up for the Boomers...still illogical in my mind.
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I do not believe it is an issue with logic, I think the bigger problem is misinformation. The moment one of these policies comes out that is primarily targeting rich people, they spend a bunch of money to change the headlines and make the peasants think that the policy will impact everyone and not just the rich.
Combine the misinformation with the deep seeded mistrust that people have for the "other" parties and you end up with the perfect formula for a bunch of people to vote for the party of leopards that eat people's faces.
With the massive wealth transfer that is going to happen as the Boomers age out, I doubt an inheritance tax will get any traction. Governments are better off focusing on a refined carbon tax and taxing the rich via income and capital gains taxes. Maybe just dumb the names down into "Rich People Taxes" so people are less likely to get confused?