> That would encourage people to consume wealth over 5 to 10 million during thei... | Hacker News

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		dragonwriter on March 5, 2019 \| parent \| context \| favorite \| on: Studying the demise of historic civilisations > That would encourage people to consume wealth over 5 to 10 million during their lifetimes, No, it would encourage people to conceal wealth transfers as consumptive spending. (Just like existing dedicated wealth transfer taxes—gift and estate taxes—do, but more strongly, and we've seen what people dedicated to transferring wealth, like Fred Trump, already do.)

agent008t on March 5, 2019 [–]

Of course - people will try to avoid the tax. I was talking about what would happen if the tax functioned as intended.

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