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February 6, 2012

Can’t unscrupulous parents just give wealth to their kids before death, avoiding the Millionaire Estate Tax? How will Meritocracy handle legal loopholes?

L oopholes can be closed. It should be a crime for one family to accumulate dangerous sums of power and wealth, because those hoards are used as weapons, and they threaten the freedom and prosperity of everyone else. Meritocracy will have laws, task forces, and regulatory bodies to deal with loopholes. These technical policy issues are solvable challenges. Today’s super-rich find it easy to evade taxes precisely because democracy is working for them—not us. It is democracy that has allowed these loopholes to gape open. Meritocracy will close any loopholes that allow for the creation of dynasties. Laws will be passed to set limits on the amount of property that is transferable to children. Meritorious people will be elected who will sniff out shell companies and expose corrupt families that want to establish dynastic wealth. Loopholes are well-worn problems, with a variety of established solutions. Meritocracy’s competent leaders will be capable and motivated to close tax evasion loopholes.

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About Casper Saul

View all posts by Casper Saul
CASPER SAUL joined THE MERITOCRACY PARTY in 2012. His activism focuses on economic equality--justice for the "bottom billion" whose cultures were dismantled by colonialism before being exploited by capitalism. Casper believes that guaranteed equal opportunity for every child is the only way to end the poverty caused by the financial oligarchy's concentration of wealth. He supports the MILLIONAIRE INHERITANCE TAX as the ideal policy to realize justice for impoverished communities that have been economically abused by the 1%.

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