First of all, it is an indisputable fact that financial speculators earn a lot of wealth by creating financial crises. Secondly, capitalists in western developed countries and capitalists in the East have different ideas. Many of them don't want to leave their inheritance to their children, nor do they want their children to get something for nothing. Of course, even if the capitalists are so noble, it is certainly a good thing that they can not pay taxes. Then why do 120 rich people (in fact, more than this number) oppose inheritance tax?
Because helping Americans above the middle class avoid taxes is an important business of all foreign financial institutions! Please note that I am talking about tax avoidance, not tax evasion. And those non-financial institutions can also benefit directly or indirectly.
Let me give you an example. In the United States, the purchase of long-term low-interest government bonds issued by the federal government is tax-free or tax-deductible, while the financial market in the United States is an agency system. Ordinary people want to buy government bonds, only through financial institutions. In this case, don't financial institutions earn fees? On the other hand, a large amount of money flows into the US government in the form of purchasing government bonds, and the government will in turn invest the money in enterprises. I have read reports that the interest-free loans provided by the Federal Energy Fund of the United States to major energy sources, automobile companies and university research institutions can reach a maximum of $6.5438+0.627 million per year. In this case, the impetus to the surrounding economies is enormous, such as Rockefeller's oil, Carnegie's steel and so on.
Of course, there are also small reasons. For example, the abolition of inheritance tax will almost certainly reduce American consumption and affect American society's values of attaching importance to personal struggle. But what I said above is the most important thing.
If the inheritance tax is abolished, many people may choose to leave the cash directly to future generations.
Therefore, the rich who control the American economy are very opposed to the abolition of inheritance tax.