Loc: North San Diego County
Jeff Bezos, Bill Gates, and Warren Buffet are the extremely rare exceptions because how ever much they inherited is dwarfed by what they have built. I am thinking much more of rich families with trust funds for all, that ensure they never have to do anything useful in their lives.
We are mostly conditioned to think of a million dollar inheritance as a big deal. But that's not 1%. That's not even 5%. These inheritances are in the hundreds of millions. If you want to exempt estates under 5 million, that's fine. A few years back the real owners of the Republican Party were willing to trade the 10 million dollar exemption for a 5 million dollar exemption with a slightly lower rate. If you did the math, that would benefit heirs of 100 million dollar estates, not the 10 million dollar farmers and small business owners Republicans claimed to represent.