I UNDERSTAND there are people lobbying to abolish estate duty. According to the Government, the estate duty collected had not been significant. The passing of wealth from one generation to another creates a grossly unfair headstart for the wealthy few. In a civil society, it is the duty of the Government, as a matter of principle, to tax such estates to ensure that the future generation's less fortunate have a fairer chance to seek space for themselves.
Tax policy should thus be finetuned to be more effective in collecting more estate duty as the rich are getting richer. The world's two richest men, Mr Bill Gates and Mr Warren Buffett, are strongly against bequeathing great wealth to the next generation. Let us heed their views.
Goh Hock Tee
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