The heirs of late Samsung Group Chairman Lee Kun-hee offloaded about 1.8 trillion won ($1.3 billion) worth of Samsung Electronics Co. shares through a block de
Following the sale, Hong’s stake in the world’s largest memory chipmaker will likely fall from 1.66% to 1.49%
Good that it’s working but shouldn’t inheritance tax at least bump them down to millionaires? I thought that the point was to prevent a wealth class, this is just an inconvenience.
Need a “securities” tax, payable in shares of the security. An annual assessment of 1% of all shares owned, transferred directly to an IRS liquidation department. The liquidated shares will be sold off to the general public over time, such that no more than 1% of total traded volume of the security are liquidated shares.
Individual investors can exempt up to $10 million in value from the tax. Artificial persons (corporations, trusts, any “owner” that isn’t human) are non-exempt.
Basically, stocks, bonds, and other financial instruments become more valuable assets to the working class, but carry more liabilities for the problem class.
Good that it’s working but shouldn’t inheritance tax at least bump them down to millionaires? I thought that the point was to prevent a wealth class, this is just an inconvenience.
At their wealth class that would probably mean something like a 99.999% inheritance tax.
Need a “securities” tax, payable in shares of the security. An annual assessment of 1% of all shares owned, transferred directly to an IRS liquidation department. The liquidated shares will be sold off to the general public over time, such that no more than 1% of total traded volume of the security are liquidated shares.
Individual investors can exempt up to $10 million in value from the tax. Artificial persons (corporations, trusts, any “owner” that isn’t human) are non-exempt.
Basically, stocks, bonds, and other financial instruments become more valuable assets to the working class, but carry more liabilities for the problem class.