What would happen to you, when Govt. will take over all assets of a dead person like a tax for redistibution?

Unearned assets which are received in inheritance after death of any relation widen the asset disparity. Corruption will also decrease when one knows that why to collect unreasonable assets when it will be taken by Govt.
Your reaction on feasibility of such kind of radicalism?
Estates should be only for life estates, not in perpetuity. Because of perpetuity one wish to enjoy at the cost of others who are being deprived even to get their basic need satiated.

4 Replies to “What would happen to you, when Govt. will take over all assets of a dead person like a tax for redistibution?”

  1. The estate of anyone who dies in 2010 gets to keep all of the decedent’s assets, after all debts are paid. Next year the estate tax returns with a $3,500,000 exclusion. Nothing “radical” about that — in fact, it’s pretty reasonable. Less than 2% of all estates will pay anything with that exclusion.

    Going back in human history it was not uncommon for all of a decedent’s assets to either be used for funeral costs or be confiscated by the government. The estates of noblemen typically reverted to the crown upon their death, with any redistribution to their heirs at the whim of the crown. Most estates were life estates, not in perpetuity, but even then the crown could withdraw the estate at the behest of the reigning monarch.

    The current system is actually quite progressive by comparison. A radical departure would actually be to allow estates to pass to the heirs without any tax whatsoever, however that typically lead to pooling of wealth under the control of a very few ultra-wealthy families, which is the reason for the current estate tax system in the US today.

  2. don’t have a notion of what your idea of radicalism is but when one dies and leaves no one the assets of the estate, of course the gov’t has to step in and dispose of it one way or another
    this isn’t radicalism, it is reality, someone has to do it
    the gov’t does take great efforts to find anyone that could be connected to the deceased to get the assets distributed to family

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