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Bo Burnham and Socko Explain: "How the World Works"

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Nojay UK7/25/2021 11:33:18 am PDT

re: #21 Love-Child of Cassandra and Sisyphus

Estate taxes are a kind of wealth tax, are they not?

Basically they’re a special-case workaround on income taxes — the dead don’t pay taxes, the living do. Someone who has a million bucks of income the year when they inherit money or property or a business worth that amount doesn’t have to pay income taxes on the inheritance. More than ten million dollars inheritance or whatever the limit is, some level of taxation is applied because it’s income to someone.