Death duties would level up generational tax-wealth inequalities
An inheritance tax set at a similar rate as the GST would stop young people being treated as peasants and the old and rich as the nobility by the taxation system.
The Intergenerational Report will reveal growing disparities in wealth between generations. Calls to address intergenerational inequality will follow.
But focusing on intergenerational wealth disparity obscures the deeper and more malignant inequality problem. It’s one embedded within our inequitable and complex tax system – an inequality at odds with our cherished principles of rights and opportunities extended to some being extended to all.
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Robert Breunig is director of the Tax and Transfer Policy Institute at the Australian National University.
