I rarely praise Neil Reynolds, but today’s column is a must-read. The point is that taxing large inheritances should appeal not only to those of us concerned about highly unequal outcomes, but also to those simply concerned about equality of opportunity.
It may or may not be possible to justify inequalities based on differences in effort, skill, intelligence, etc. However, there is no justification for huge inequalities based on heredity alone.
- Erin Weir is an economist with the United Steelworkers union and a CCPA research associate.