The Walton fortune was earned... by Sam Walton. If he wasn't allowed to leave it to his family, what does property even mean?
In my view, there should be some correlation between hard work, smarts and financial outcome that isn’t entirely determined at birth.
A rhetorical question isn't a troll. If someone is a troll, just flag them.
> explain to me how we don’t end up with a feudal society in a generation or four
As wealthy people die, they give their money to foundations and split it among their progeny and spouses. Some of them, it turns out, aren't great with money. The richest of the rich are no longer Carnegie, Rockefeller, or Weyerhäuser. A few generations out and the fortune is already spreading out naturally. Sure, some grandchildren are regional socialites and minor celebrities, but we're not exactly worried about which politicians Paris Hilton is palling around with.
Your system of “natural” fortune spreading was the default for all time until the modern welfare state came along. That’s what you want to return to? Hope that stupidity somehow spreads wealth the best?
Some people are born with above average intelligence, or above average physical skills. Nothing wrong with that either.
Why shouldn't people be allowed to inherit significant fortunes?
Generally the tax is not supposed to be on inheritance but on unreasonably frozen money. Inheritance tax is a work around.
Skills when applied are supposed to be net positive for society.
Additionally with money comes influence, media and politics. Stagnation in those areas is risky too.
The democratic urge to use the state for preventing the transfer of wealth between generation is sickening. It shows neither a respect for property nor liberty.
Also, you make it sound like Sam Walton somehow has a debt of gratitude to a society for it allowing him to get rich. I think that no such debt ever exists: in exchange for those billions of dollars Walton made society has already gotten something equally valuable in return, i.e. Wal-Mart mall in every city, providing cheap and easy access to all kinds of consumer goods. That's how business works: making money by providing services that society finds valuable.
