Taxation

Michael Muthukrishna makes the case for land and inheritance tax

If debt were inherited over generations, it’s easy to see how it would quickly leave some trapped in permanent multigenerational poverty, unable to escape no matter how hard they worked or how high an income they managed to secure. The interest on debt would compound over generations and eventually no amount of work would be enough for it to be paid off. Being trapped in debt is something many can understand. But the reverse…