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I also believe this should apply to all inheritance also. That's where most wealthy people get their money tax free. I know the old argument that it a "death tax", but it's still income to the receiver. Can I tell the guy that just painted my house that he doesn't have to pay taxes on the money I just gave him because I've already paid it? What's the difference?
It should apply to inheritance. Inheritance is income. Personally I believe there should be a maximum of inheritance allowed in the society. Say perhaps 50x(for future years) GDP per person.