The next 12-15 years is gonna be a massive transfer of wealth to the younger generation and when that happens, there's estate tax, so a portion of that's going back to the government. I consider that unfair because you've already been taxed on it multiple times, so why tax on death makes no sense to me. An interesting stat about this is that it only takes three generations to basically lose that wealth. The people that make it, covet it, understand it, manage it, think it's very important, but people that are given wealth, they squander it, and I think that's a remarkable thing. It finds its way back in the economy.
The next 12-15 years is gonna be a massive transfer of wealth to the younger generation and when that happens, there's estate tax, so a portion of that's going back to the government. I consider that unfair because you've already been taxed on it multiple times, so why tax on death makes no sense to me. An interesting stat about this is that it only takes three generations to basically lose that wealth. The people that make it, covet it, understand it, manage it, think it's very important, but people that are given wealth, they squander it, and I think that's a remarkable thing. It finds its way back in the economy. ♬ original sound - Mr. Wonderful
