Personal Finance

Some places do have an estate tax (inheritance tax?), but there are often many ways around it and as such class still exists in the UK (say) with its 40% estate tax.

I've also heard that the tax can result in an enormous bill to a family that suddenly has a single expensive illiquid asset. Far be it from me to shed a tear for people inheriting over a million dollars or whatever, but it does mean you give up your modest family home in an area whose land value has gone up.

There's an argument going on elsewhere in the thread whether you'd prefer the government be your landlord, which: a) Yes, in my country. Flat yes. The rate of public housing to demand is quite poor though, but it does exist. And I've lived in worse, more expensive, private rentals. b) Cuba has a "rent to buy" system which funds new housing while also meaning that you still build equity on a home over your lifetime. So the government is your landlord but not permanently. And Cuba has less homelessness than much much richer countries. (and c) I'm fine with living in a grey commie-box, but whatever)

At least here in Australia, I'd at least want to see landlords politically disempowered. It's actually quite hard to find any politician that doesn't get passive income from owning homes, let alone their portfolio growing in value due to asset appreciation.