Marlene Engelhorn hadn’t given much thought to the wealth that surrounded her as she grew up. She always considered the fortune, inherited from Friedrich Engelhorn, the 19th-century founder of the German chemical giant BASF, to be her family’s money rather than hers.
I agree it needs to be a highly progressive tax. I’m generalizing because we’re discussing international tax law and I don’t know the income cutoffs for different countries.
Double taxation is a real concern only if the inheritance tax affects very low income individuals. A family who shares a car or a struggling family restaurant might have a very difficult time if they are forced to pay an unexpected tax bill.