Time-Limiting Assets
In the book New World: 16 Wise People Talk About the Future, there is a discussion about the concept of Inheritance. One of the contributors, Thomas Piketty, explores this topic in depth. However, another individual named fladdict also shares interesting insights on this matter through their tweets.
According to fladdict, it might be beneficial to implement a system where assets are time-limited. They propose the idea of eliminating Inheritance altogether and instead providing a universal system where individuals receive a lump sum of 30 million yen when they turn 18. This system would prioritize the value of receiving financial support at a younger age and promote fairness. fladdict shares this idea on Twitter on July 28, 2020 ().
Another suggestion made by fladdict involves modifying the rules of Inheritance tax to create a system of Progressive Taxation based on the age of the heir. This system could potentially achieve a balanced approach to addressing wealth inequality and the advantages of youth through Redistribution of wealth. This idea is shared on Twitter on July 10, 2020 (). Additionally, fladdict proposes a system where inheriting assets at a younger age would result in lower tax rates, while inheriting assets at an older age, such as 50, would lead to a higher tax burden. This tweet can be found on from July 10, 2020.
Furthermore, fladdict questions the current practice of allowing Inheritance to be passed down for three or more generations. They express their concerns about the fairness of this system. This tweet was posted on on February 24, 2020.
For more insights on the topic of providing capital to young people, you can refer to the article /private-ggkkiwat/若者に資本を供給する.