Should the richest Americans be taxed on their wealth? Rich Americans have already paid income tax...

Should the richest Americans be taxed on their wealth?
Rich Americans have already paid income tax on the earnings that made them rich in the first place. Isn’t taxing wealth double taxation?
Should wealthy American taxpayers pay inheritance and gift taxes in order to give their money to their family?
Keep in mind that you don’t have to die to have to pay inheritance and gift taxes under the current tax code. Anyone who gives a family member more than $5 million is subject to the tax. Is that amount too high or too low, and why?

Expert Solution

Rahul Sunny answered 2 years ago

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