100% Estate Tax

Megan McArdle asks why we don't have 100% estate tax. In my junior and senior year of high school at the peak of my liberalness, I had two ideas to create a more egalitarian society: 100% estate tax and ban all private schools. My logic was that without inheritance, we would become more of a meritocracy and there would be more equality of opportunity. If we banned private schools, it would be the same thing, and I thought, people would demand more of public schools if there were no alternatives.

As I've gotten older, I've realized a couple things: both rules are impossible to enforce and we probably wouldn't want to anyway. Parents - I suppose - are able to decide how their kids are educated. (note: although we do require kids to be sent to some type of school).

With inheritance, if it were 100% taxed there would be all sorts of chaos. People on their deathbeds would be gifting cash all over the place to relatives and nearly everyone would try to cheat. Plus, I'm not sure we want the government to have an interest in citizens dying to collect money. That seems creepy. Also, it also goes back to a question of money and who it belongs to - and especially after it has already been taxed when it was income. Doesn't our money belong to us? We consent to be governed/taxed so long as the government is elected legitimately, etc. The money does not belong to the government and they get to "allow" us to do what we will with it.

Anyhow, it seems most logical to have a super progressive scale for inheritance, but not tax it at 100%.