Milton Friedman Educates On 100% Inheritance Tax

[Bryan Hancock]

I found the arguments in this video quite educational:

Milton Friedman On Why 100% Inheritance Tax Is a Bad Idea

Vikram and I had this debate a while back and he made many of these same points. I consider myself a rugged individualist that believes one should prosper or fail based on their own efforts and abilities. However, I can't say that I disagree with Friedman on his argument on the video above.

I think most would take it as a given that the initial condition of having more capital does give decided advantages and hence distorts a meritocratic society. Do you see any way to level the playing field without distorting one's incentive to scrimp and save to pass wealth on to the next generation?