Inheritance

I once asked Mrs. Thatcher what was her biggest disappointment in Government, and without any hesitation she replied that she had cut taxes and thought the rich would become generous givers, just as they are in America.  Now sadly that giving culture, while there are noble exceptions, has not taken off.  Therefore what I propose here is to have antisocial behaviour, or rather acceptable behaviour contracts for the rich.  That if in fact they do not start giving in a way in which their riches would give them the duty to do so, then the State would levy additional taxation on them.  Not for the State, in fact, to take that money, but to encourage people to set up their own foundations or give to other foundations so that wealth is more evenly spread throughout the community.  Bacon once said that wealth can only do its function if it is spread like muck, spread around over the fields.  That is what this little reform is all about, making sure that wealth carries out its function, being more evenly spread, so that all of us can benefit from rising incomes.