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Usually wealth taxes don't appropriate the wealth (apart from transfers to other people such as in the case of inheritance), they are levied over the increase in wealth that is over the increase in wealth for which the owner did no work.

The family enterprise inheritance issue is often overstated but certainly an issue. There are really two issues. On the one had is the child contining the buisiness or just cashing out? After all, inheriting and then selling it off is no different from directly inheriting a large sum of money and should be taxed accordingly. On the other hand there is the size. The child of a farmer or baker should be able to take over their parents business without going into large debt, but why should for example the Waltons have  control over a gigantic corporation with all the political power that entails purely by virtue of their parent/grandparent?  

by Anspen on Fri Jan 20th, 2012 at 09:31:40 AM EST
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