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What is inheritance? Should inheritance be taxed? And if so, at what level?

Today I want to talk about wealth, inequality, and whether or not we should change our system of inheritance in the future!

Transcript - https://thinkinginenglish.blog/2024/05/27/298-wealth-and-inequality-should-inheritance-be-abolished-english-vocabulary-lesson/

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VOCABULARY LIST

• Inheritance (Noun): Property, money, or assets received from someone who has died.
• Progressive Tax (Noun): A tax system in which the rate of tax increases as income or inheritance increases.
• Wealth (Noun): The amount of valuable possessions or money owned by an individual, family, or society.
• Asset (Noun): A useful or valuable thing or person.
• Estate (Noun): All the money and property owned by a particular person, especially at death.
• Meritocracy (Noun): A system in which advancement or success is based on ability or achievement rather than on factors such as age, race, or class.
• Inequality (Noun): Difference in size, degree, circumstances, etc.