Many issues with that also. First - wealthy people just move their wealth overseas, as most wealth is actually not in physical goods but freely movable virtual papers and money.

Second, if the rule applies to all, it would leave a lot of children without the base which their parents worked their whole life for, as they would probably not afford to pay tax on a house they would inherit.

And third, inheritance doesn’t mean anything really, but how someone can manage it. Being wealthy is easy. Becoming wealthy and staying wealthy is hard. Plenty of kids who destroyed empires their parents built. If the kids can manage the wealth and build upon it, why punish them for having good parents?

Because it’s immoral and it would be dual standards unless you take away from all who “didn’t earn it”, like disabled people or people temporary without jobs. Those also get money for basically existing.

There’s also the problem of incentives, if you encourage taking from those who have, you prevent new people from possibly starting businesses because why should they, if it will basically be taken away from them? Better to be jobless or do some minimal non-useful work and get money for nothing from the wealthy. You just move the problem from A to B but you didn’t solve it.

And how would you takle that problem that isn’t plain “take from them and give to me”? Everyone of them had someone in the past do the hard work, and still today, you have people who succeed through hard work. Why not be the first of his line to build up wealth?

Interfering with the housing market in that way will make companies build and sell less houses, because the business becomes more risky, so by keeping the supply low and demand high, they can make sure they will always be able to both sell the home in the required time frame, and with the profits they want. Or in the end, higher prices for consumers. Good luck with that.

As for rich people in general, most of them, AFAIK, actually built their wealth from ground up. Ofc their kids will inherit it without absolutely doing nothing, but that is nobodys fault, the parents want the best for their kids, and the kids would be stupid to go work some shitty job if they can afford a jump-start by for ex. buying and renting properties with parent’s money. In the end, someone did work hard to make it happen, over multiple generations sometimes.

Also, most people are simply financially not literate. They have no idea how the financial system works. If I buy a stock today, and its value increases by $10 in a day, and I sell it, I made $10 out of thin air. Try to explain to people how money gets created “seemingly out of thin air”. Most people will simply ignore it even though stocks are the one and only thing that rich people have that makes them rich. Everything else they own, like houses, yachts, cars etc… they are running costs that actually make you poorer. People who understand money make money. People who can pay people who understand money to manage their money make money.