So long as men are mortal, wealth must be transferred between the generations and so long as parents care for their children, the dominant means of doing so will be through family inheritance. The transference of wealth through family benefits bequest or and heir, strengthens family ties, and increases long-term savings. When the state intervenes in this process, it increases its coffers at the expense of the smooth operation of family, society, and economy.
Death Taxes: Theory, History, and Ethics
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