The Proposal for 100% Inheritance Tax 

Yup, give the money to the governments, they use it sooo well.

“Hey we had a meeting and decided you owe us money” - Government

“They want to run it into the ground.” So true. My family comes from Cuba. We had a 5,500 acre farm, growing some of the best tobacco in the world. The family had three generations living in it. When someone was married the family would build them a house on the property. Many employees also lived on the property in homes that the family built for them. In comes Castro and his cronies. The farm was given to the state. The employees made to move to the city. We don’t know what became of them. The entire extended family was made to all move into a single house because each family living individually was deemed wasteful and not fair to others. Those vacant homes were never filled and rotted away. I’m not even getting into how several of my family were “disappeared” to re-education camps. Some never returned. Those that did, were never the same. This is communism folks and we should fear anyone that espouses socialist or communist ideals. It destroys lives.

100% Inheritance Tax? Easy fix! Have gold in your safe and when you die your folks can just take it out. Tax free.

"Eliminate money as a medium of exchange". I dont understand how a magazine can publish such nonsense.

I just left Venezuela a month ago and man... I feel like I scaped from the past. And all I did was moving to the next door country. Government is doing great. they have all the money and a lot of it. The good thing? Equality is up the roof! No one have electricity now =)

my mum starved to death last september because of a tumor in her stomach. i also lost my job. The only thing keeping me going is the inheritance. i swear i'd have jumped off the bridge where I live by now without it. government are pure evil.

I think that's actually called "Theft" or "Stealing"

If i cant pass anything to my kids, I will just barely work. I work to give my kids a better live if I can't do that will just barley try. Video games are fun.

I guess he didn't get the memo, the wise man leaves an inheritance unto his children's children.

Yup, 1920's and 30's all over again. Prepare yourself for what's coming. Just history repeating itself because people never learn.

Here's what they won't say: Who is exempt? I'm willing to wager that politicians and their families will fall under a little known clause. It will be called a waiver like the one that was used to exempt US Olympic athletes from banned drugs.

This is so crazy. How have they got so far off course?

Scary times we’re living in

In Canada, the Liberal Party recently voted to implement a 'universal basic income'. With another election coming up, this may soon be a reality.

I don't believe for a second that governments would be able to properly or fairly assay your holdings for any inheritance or wealth tax. Case in point. A friend of mine tried to donate $1 million of excess medical equipment to offset taxes from his auction business. The tax rules said that he had to have 3 separate value appraisals to determine his eligibility. His problem was that he couldn't find 3 government approved appraisers. The medical equipment gathered dust in a warehouse for a decade until Covid happened and he was able to donate it. It took a global pandemic for the government to get its' act together to take a hard equipment donation. I believe the government is more adept at creating laws and red tape to appropriate your wealth, than to help you acquire or keep it.

[Aesop] Grasshoppers are furious that the ants won't feed them thru the winter... [/Aesop]

My children gets ZERO if they're still not subscribed to the Nomad Capitalist in my death bed

One way around this to keep them artificially alive 😂. They can't take your sh*t if you're not "dead". Keep my ass on life support 😂

This idea was though up by someone who hasn’t got an inheritance coming to them 😂 jealousy/envy is one of the 7 deadly sins !!!

You forgot to add the UK. Disgraceful inheritance tax of 40% of assets over 325,000 GBP and by the way I would not buy leasehold property in the UK even if it is over 900 years simply because the freeholder has no incentive to keep repair costs down as they can just be passed on to you as the leaseholder. You will on average be paying a much higher service charge for a leasehold apartment in the UK than a Share of Freehold one

That's quite rude imho. The one you inherit the money from has most likely already paid their fair share of taxes during their lifetime and in most cases that inheritance won't be that big and it's also associated with pain and potential conflicts. Come on.

Easy, just make sure you don't own anything. Use a Trust or Foundation instead. Works well for the Klintons.

You're doing God's work man, that's BS

Andrew, I'm looking forward to hear you talk about estate planning. As a middle-aged man, this is a topic that is becoming more & more of interest to me.

Estate planning videos are very necessary. Please make some of those. Thanks for sharing your knowledge.

Andrew - I would appreciate that you include source of article when you discussing those. Thanks!

I know you work explicitly with 7 figure and higher earners however a few videos aimed at those of us a decimal short of that but with the goal of getting into the bracket would be something I'd love to watch. And thanks for helping me understand the value of a plan 'B' right now for me and my family in the US that eventually might become a plan 'A'.

I almost couldn't even make it through you reading that guys manifesto. But I knew it would end and I managed to tough it out. But it was brutal.

I watch "Abandoned places" on RU-vid, and they show abandoned homes, in countries like France and England, in many cases the reason they are abandoned is that those who inherited could not come up with the money to pay the tax involved. So, Andrew, I think that this is not a novelty if what has been said about these abandoned properties is true.

Most WEALTH (according to CNBC) is held by older women in the form of retirements, INHERITANCE, real estate, alimony, pensions, and savings. Take that wage gap.

Milton Friedman addressed this issue. In his words, we are a society of families, not individuals. I highly recommend to watch that video.

This is insanity, but considering the current social climate, not surprising.

If Mr. Henderson was not reading from articles that can be looked up for one's self on the internet, one would think the "articles" are made up. Unbelievable!

Inheritance is a blessing and does not destroy character if it is earned through apprenticeship! Good parenting teaches offspring beneficial values. Confidence shouldn't only come from meritocracy.

Now thats what Communism means

Exactly! Atlas Shrugged!

6:29 it's hard to understand exactly what the guy meant, but I know a story similar to that - and it happened in your most beloved place on Earth, Andrew... Catalunia, Spain LOL. A guy called George Orwell joined the Spanish anarchists in order to fight Franco during the Spanish Civil War. They managed to take over that area and then decided that nobody would own anything - businesses worked that way until Franco won the war. If anyone is curious, just check his book "Homage to Catalonia".

Don't worry because the politicians and elite will not be subject to these inheritance tax.

If I can’t give my kids a better future and a helping financial hand then I might as well retire now and spend every penny.

America is becoming more and more draconian every day.

Easy way around it. Dad buys silver and gold then buries it. Then draws the kids a treasure map. BTW why is it that politicians mandate that doctors, lawyers, architects etc. have to earn a degree. Yet politicians that are running everything don't have to have ANY qualifications or psychological tests.

I just can’t get over the fact that the government takes half my money when I make it and then they want to take half again when I die but that’s not enough. What if I make money and save it so my children can live well when I am not around, what is wrong with that?

If this becomes reality I can foresee a lot of businesses and properties burning to the ground after someone dies because an insurance claim is not taxable

Appreciate your videos.

Whenever someone says "we want socialism like in Denmark" I always respond "okay, so we should eliminate the minimum wage, cut business taxes, make all employment at will, remove a bunch of regulations and make our tax structure completely regressive?" Denmark isn't as "socialist" as most people think and neither is most of Europe.

I'm not opposed to abolishing inheritance in theory. But I am absolutely opposed to it as policy. It simply will never work.

We fight off Britain to get away from a tax hungry ruler only to be ruled domestically by tax hungry rulers no more than 250 years later. It’s as if American-Revolutionary fighters lost their lives for nothing. Nomad seems the way to go and as reluctant as I’ve been, crypto seems like the way of preserving future wealth away from tax hungry entities.

Government is the original gang and they know how to extort and where and when to apply pressure.

Reminds me of the twilight zone episode where the guy finds a genie lamp and wishes for a million dollars, then the government comes and tells him he somehow owes more money than the genie gave him 😂🤦

Anyone that assumes you inherited money, is inherently racist or at least has a negative racial bias. They're looking at you as a white person that has money, and are drawing their own conclusions that you couldn't do it on your own. There's alot of irony with some people thinking that, that also hate when they're judged the same way.

When I inherited from my dad property an stocks I had to pay can govt $600k inheritance tax

I dont get it. The home or inheritance the taxes were already paid. Why do they want to tax it again? Thats insane.

Millions died to achieve this level of liberty and human evolution in the west and we shall remember them by continuing to defend our liberty each and every day.

If parents don't teach their kids how to manage wealth, we won't need to worry about the government wasting it, the heirs will do it on their own (lookin' at you, Vanderbilts). We've taught our kid.

Not sure if you seen this Andrew, but I did see a video about anonymous donor giving money to city of Oakland to giver “essential artists” (W**) a basic income, think it was minority only, don’t care about, I am sorry, but artists are not essential workers, I only consider doctors, nurses, dentists, firefighters, police officers, teachers, and people involved in production of food essential workers You are actually right about your hunch that it takes times for ideas to “settle and grow” over decades to become mainstream, my opinion economic professor said if you want to know what will be big in 20-30 years, look for what is niche right now, she gave examples of hippies from 60’s caring about the planet and recycling, it didn’t get mainstream adoption until those individuals got older and became company CEO’s and elected officials, I remember 90’s were about being more sustainable, people caring about emissions, now we getting into solar and electric cars, you could see similar patterns in adoption of computers, if you look at how we adopting cashless society, PayPal came around mid to late 90’s, same thing could be adopted for political views, what is scary to me is looking at political and societal views and ideas that are on the fringe now and what might be in 20-30 years. Programmer jobs are 21st century factory jobs, everyone is always surprised when I tell them that.

Estate planning for nomads.....looking forward to that!! Keep up the great work Andrew 👍

There are no such thing as inheritance tax. The inheritance accumulated were taxed. How many times the govt need to tax.

Anyone who has learned though apprenticeship how to manage their inheritance is worthy of it and should be confident. Doing something the harder way doesn't make you any better than someone else.

Norways' Management of its inherited wealth from their oil supply is a constructive example.

The first generation makes the fortune. The second generation enjoys the fortune. The third generation loses the fortune. Always has been, always will be... :)

It used to be go carve out a piece of pie,now it is carve out of someone else's pie.

This is so evil, inheritance is a blessing and envious people should go take a sh*t! Being self made does not build character anymore than apprenticeship to teach a child how to manage such large sums of money.

Sure I wouldn’t mind a 100% death tax but taxes during life needs to be 0-10%

Spot on, Andrew. I just wish I could not be angry about this.

Excellent views! You will be leave a big footprint on international markets

Okay, then it isn't an inheritance, lets call it unearned economic benefit. My family will live on!

He are few examples.. USSR, East Germany, Romania, Cuba, Venezuela, China before opening the ownership of property.. the shared keyword would be « Failure »

Then I guess you transfer your property and wealth to your children prior to your death!

Thanks so much for your Chanel

So I go to work in my taxed car to get taxed at when I get paid then come home in my taxed house that I spent A life time paying it off just for the government to take it from my family when I die ? The same government that had us in lockdown for 2 years while they went to garden parties ..... People will and shall not except this

Great video, insane article. I'm willing to bet my whole Bitcoin holdings that Ben still lives as an Incel in his mom's basement.

TVs and Gucci bags 😂😂😂

"No Treason" by Lysander Spooner is sounding more relevant each and every day that passes

The Jacobin (like jacob). The Jacobins were anarchist socialists pre-marx. Their hits include “French Revolution: the reign of terror “ and “Don’t cry for me guillotina”. The Jacobins were so great that the French desperately sought Napoleon as a savior.

“He can do a better job with my money.” I learned that lesson when I travelled alone as a naive teenager on a bus and passed through NYC. I got hustled out of all the cash I was carrying by a local, in the 20 minutes I waited for my next bus. Amazingly, the guy vanished into the night with my money instead of fulfilling the proposed promise that he made. I became I bit more cynical from that point. I don’t have any wealth to pass on yet, but I’m working on it. These socialists can all get in a boat without oars or sails and cast off. Cya!

I wouldn’t mind an inheritance tax if I’m exchange the income tax were eliminated. Not only does it disincentivized work, but it wastes billions of hours every year in filling out forms and is an invasion of privacy. The government doesn’t need to know every aspect of my financial life. Eliminate income tax and capital gains tax and put in a national sales tax or vat. And you are right. No one would buy any property, especially take on a 30 year mortgage. Corporations, which don’t die, would own all the property and rent it out. Or put it in a trust. Or gift it. There are many ways around it. Or people will just marry their child and it will pass to the spouse, unless that is taxed as well at 100 percent. But that would mean that the very widow would instantly lose their house. Don’t think that would fly.

Spot on. I grew up very patriotic thinking one party held all the answers to fight socialism and maintain freedom, but the decline of the West over the last decade, has shown there is little difference between the two parties. Both are creating bigger government and encouraging more reliance on them. Both are spending out of control, legally counterfeiting money, and leaving the bill to our grandkids. There seems little need to pledge allegiance to a country that is no longer “for the people, by the people”. Instead it makes much more sense to choose yourself and your family and opt out of American life and live as a citizen of the world. I believe in this next decade you will have a lot of people waking up to this and migrating to decentralized safe havens that will start popping up within nations and territories where common beliefs exist such as low taxes, personal freedom and building generational wealth. By then it will be too late for those with no plan now. Crypto and blockchain tech will likely be at the forefront of this revolution. Those that invest and work on their exit plan now will be glad they did 10 years from now.

My aunt stole my inheritance so I vote to abolish it all together.

I’ll just give all my stuff away before I die.

this is crazy, like completely CRAZY.

The Earth is the Lord's and everything in it. Lucky are those who inherit their fortunes from the Lord. Fear of the Lord is the beginning of wisdom. Fools gather for another to enjoy.

Andrew is throwing shade left and right ;)

Is this the same Bogotá house as on the video tour? Looks amazing!

The French Revolution, Andrew. Making money is great, but a little knowledge of culture and the history of your civilization has something to say for itself too.

The farm taxation happened in Algeria in the 70s which was called Agricultural Revolution, that destroyed the agriculture of a country which used to be for centuries generating grains for Europe to be fully dependent on imports! Just because if this inheritance taxes

It seems like the best strategy if you are going to own property in the United States is to keep it highly leveraged at all times and then purchase property debt free in a low tax country. That way if you need to escape the United Statew quickly and walk away from your property, you are not losing much equity.

We are becoming thoroughly pathetic

Does this mean that buying nice things for your kids when you're at an old age would be considered tax avoidance?

More content on estate planning. I notice that Malta doesn’t have an estate tax. Any other good countries to utilize for global sovereign citizen estate planning?

TLDR: higher inheritance tax is good if it meant direct taxes such as income, corporation tax etc. are reduced I am no economist or expert tax adviser, but I think an increase in inheritance tax could be good if it meant reducing other taxes by the same amount. Firstly I think that taxes, in general, are generally not beneficial and should be reduced to as low of an amount as possible as the government don't seem to use funds very efficiently. Secondly by "other taxes" I specifically refer to direct taxes such as income, corporate, capital gains, property etc. should be reduced. As for indirect taxes such as VAT (sales and use tax), I have much less of a problem as there would be a link between the benefit I am receiving and the amount of tax paid. Think of a system similar to Monaco. I have no idea how you would put in place such a system, but assuming the total taxed amount stays the same and everything else being equal, I would prefer an increase in inheritance tax if direct taxes would be reduced by an equivalent amount. I think such a change would promote a society based on more meritocratic values which to me sadly seems to be a dying concept. In my mind, meritocracy and inheritance seem to be competing concepts that cannot be had together. To achieve the one you would necessarily need to sacrifice the other. I understand the feeling that you would like to have the power to decide to give your money to your family, as you might have earned the money through significant hardships and thus feel entitled to control what you use it for. However, from the perspective of the child, they would be benefiting without having earned it. From my perspective, I think it would do my future kids more good to not spoil them through handouts and instead have them learn to earn it for themselves. Personally, coming from an area with high average household wealth, I felt I had to move out of the area and the country as many people tended to be or become complacent. Additionally, I would say I much prefer hanging out with ambitious and driven people, no matter their current economic situation. Reducing direct taxes and increasing inheritance tax should also mean higher potential social mobility and lead to a society based on equality of opportunity rather than the dysfunctional counterparts equality of outcome and equity which has plagued the west in recent years.

John Adams believed we should not have large private fortunes, as it would have a corrosive effect on the body politic

Thank you, Andrew, for sharing your perspective! As always, eye-opening and helpful! Can you please share your thoughts about investments in Russia and if you recommend buying property there! Thanks!

I think it's Jack-o-bin after the French revolutionnary.

The lazy will always be poor and the hard working people will sooner or later be able to live a decent life. Its all about the mentality and attitude you have.

I voted with my feet, and left the USA for good! Moved to the Caribbean. Best decision of my life!

Something for any Progressives reading this to understand. Money, inheritance, investments, etc... are all just stores of value. The original store of value are food grains. You would hold on to seeds so you could plant food (also a store of value) for the next season... Would you suggest we get rid of that too? Because if not, money, inheritance, investments etc... are just stores of value that help guarantee the ability to secure food just without the actual seed/ land to grow it.

Maybe if we have to pay 0 taxes when alive I'll consider it 🤣

Easy way around this, think what John D. Rockefeller said own nothing control everything. Operate through a trust or some sort of separate entity. Do not pass the wealth on through yourself but instead have your heirs take control over said entity. An example would be your father a CEO retiring and naming you his replacement(perhaps he prepared you and you only). I am currently studying to be a licensed CPA and Actuary, I love skirting the tax system and the courts.

Stay safe Andrew.