Without understanding the history of slavery and colonialism, we cannot understand the extent to which societies today are shaped by systemic racism, unfair distribution of assets, inequality and violence – and how all of these have led to despair, marginalisation and disenfranchisement in parts of the population.
I also wonder if a higher and stricter but still progressive inheritance tax would be one of the simplest ways to slow down wealth inequality over time. Will take several generations.
Had conversation with a friend who will inherit a farm about this. He brought up the “If I had to pay 60% tax on inheriting the farm I’d have to sell it” argument. I pointed out that you could easily get a mortgage on the farm to pay the 60% tax and it’s more like you’re getting a farm you did nothing to earn for a 40% discount.