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Comment by ameister14 | Hacker News Reader

This is why we should have a 95% inheritance tax on assets over $1 million dollars outside special case like family owned businesses and a family home.

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I cannot disagree more heartily. $1 million is really not that much money. I would immediately start squirreling hard currency away in the walls or burying mason jars of it in the back yard if idiocy like that were made law.

$1 million dollars is what many people earn in a lifetime of work. I wouldn't describe it as 'not really that much money.' It's the same size as the loan Trump got from his father. It's certainly more than most people can save.

If you earn a huge fortune, I would prefer that it be gone from your family in a maximum two generations of mediocre management. Otherwise we risk hereditary fortune and power.

No special cases. Why should there be? $1 million should be enough to cover most family homes. For businesses alike. Why should the next generation be a better business owner than anybody else?

If you own a shop or restaurant, you should be able to pass it on to your children.

I don't know how estate tax brackets work, but above a certain amount the rate should really be 100%.

Why would anyone work hard if the government will strip it from their family.

Tens of millions of people in the US work extremely hard and never save anything close to a million dollars. Most people wouldn't be effected at all.

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