Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Economists and politicians like Theodore Roosevelt and John Stuart Mill supported limiting the amount of money that could be bequeathed to heirs, arguing that inherited

Economists and politicians like Theodore Roosevelt and John Stuart Mill supported limiting the amount of money that could be bequeathed to heirs, arguing that inherited wealth plays less of a role in economic growth than funds from other sources. This is part of the reasoning behind the estate and other related taxes. Is it ethical for the government to limit the wealth a parent wants to bequeath to their children? Below are some possible points of view for you to agree or disagree with and to get you thinking.

*

It depends on how clear the link is between the source of funds (earned vs. inherited) and the effects on economic growth.

* Even if there's no good evidence that economic growth is weaker with large inheritances, the government should aim for more equality among citizens.

* No, taxes are for funding government activities, not manipulating heirs' wealth.

* No, the government should not have the right to do. These monies have already been taxed. This is double taxation.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Development Economics In The Twenty-First Century

Authors: Claudia Sunna, Davide Gualerzi

1st Edition

1317219961, 9781317219965

More Books

Students also viewed these Economics questions

Question

Identify the problem for each case.

Answered: 1 week ago

Question

What is the method of least squares?

Answered: 1 week ago

Question

Context, i.e. the context of the information presented and received

Answered: 1 week ago