At those margins, there are a lot of ways to avoid that particular issue—mostly by giving to other recipients to keep you at $0.999M unless you can give over 1.038M.
This is a long way from the worst thing about inheritance taxes or about common tax systems today.
Sure! My objection is maybe more aesthetic? This tax design violates one of the core rules of taxation, which is that starting with more money should not put you in a worse position. So, no, it’s not a high priority, but it’s also worth drawing attention to as an example of how not to do things.
At those margins, there are a lot of ways to avoid that particular issue—mostly by giving to other recipients to keep you at $0.999M unless you can give over 1.038M.
This is a long way from the worst thing about inheritance taxes or about common tax systems today.
Sure! My objection is maybe more aesthetic? This tax design violates one of the core rules of taxation, which is that starting with more money should not put you in a worse position. So, no, it’s not a high priority, but it’s also worth drawing attention to as an example of how not to do things.