this post was submitted on 31 Dec 2024
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Even at 1:1 we’d be out of billionaires in a couple months.
No, because inheritance
First off, there's an estate tax. Second, it's rare for only one person to inherit everything. Third, the children and next of kin are often not even remotely as bad as the dragons that hoard wealth.
Statistically speaking, 70 percent of inheritances are lost by the second generation. It's then 90% by the third.
Just for pedentasim, most wealth held by the extremely rich is in the form of assets that aren't covered by the estate taxes. This is often by design.