This is Extreme Wealth Inequality: How Does One Fix This?

[Igel]

29. The inheritance tax both would and wouldn't increase social mobility.

Depends how you define "social mobility."

If you define it in terms of percentiles, sure. If you always remove the top 5% every 40 years, by definition you always get a new top 5% every 40 years.

If you define it in terms of household wealth, I'm not sure how getting rid of those with wealth over $10 million will suddenly allow that new 5% to have household wealth of over $10 million. I'm not sure how the current crop of households with net wealth over $10 million prevent new entrants to the "club."

Oddly, I really don't care what percentile I'm in. Never have. Whether it's class rank, the SAT, GRE, LSAT or personal/household income or wealth, how I stack up against others has never really interested me. (It's only been of concern when *others* want to compare me to others--when applying to grad school or law school, for instance.) I could be in a destitute, hole-in-the-ground country with a pittance for wages and be in the top 15% or be in the US where being in the middle 5% gives me a tolerable house, entertainment, food, and lifestyle and I'd choose being in the 47.5-52.5% range instead of the top 15%.