Currently, the richest 10% of households in the U.S. owns almost 70% of all private wealth, while the bottom 50% of households hold a meager 2.8%. This is hardly an even playing field for the market to give opportunity for the best ideas and talents to emerge. Renowned sociologist, Max Weber, said the revenues from the inheritance tax should be evenly redistributed among young members of society, so as to create equal starting conditions for the “market struggle.” Part of the objective of the tax is to even the playing field. In American political discourse, if we can’t agree on equal outcomes, surely we can agree on equal opportunity.
