Expected transfer may spark even more debate on income inequality and the estate tax.
The charges of inequality of wealth and income are about to become an even bigger issue, according to a Market Watch report “The largest wealth transfer in history has already begun” which details an estimated 14,000 wealthy people will pass on $3.9 trillion to the next generation by 2026.
It is not always possible to predict with great accuracy how people will react to things, but it is almost a near certainty that such a vast transfer of wealth to heirs who did not personally earn that money will keep the debate over the estate tax going.
People who are in favor of the estate tax believe it is unfair and harmful to society when too much wealth is passed between generations of the same family. Those who oppose the estate tax believe such wealth rightfully belongs to the family that earned it instead of spread among those who did not.