United Airlines CEO wants a wealth tax, but Americans deserve to keep their legacy
United Airlines chief executive Scott Kirby has argued for a national wealth tax and an inheritance tax that could approach 100 per cent above an unspecified threshold. The article’s author, a tax-services business founder, opposes the proposals, arguing that they would give government too large a claim on wealth people have built and hope to pass on.
The author says many business assets are tied up in companies, property and equipment, so their owners may not have cash available to pay an annual tax based on estimated value. They argue this could lead owners to borrow, sell assets or divert money from investment and hiring. The article acknowledges concerns about inherited wealth entrenching privilege, but says policy should focus on helping more people build ownership and opportunity; Kirby has not set out a specific threshold.
In short
- Scott Kirby supports wealth and inheritance taxes.
- The article warns taxes could affect investment in businesses.
- Kirby has not specified the inheritance tax threshold.
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The case for
Supporters could argue that very large fortunes and inheritances can entrench privilege across generations, while leaving public needs underfunded. A wealth tax and higher inheritance tax could ask those with the greatest capacity to contribute more, reduce the role of inherited advantage and help fund wider opportunity.
The case against
Opponents could argue that people should retain a substantial share of wealth they have built and pass it on to their families, rather than face taxes that could claim nearly all of an estate above a threshold. Because wealth may be tied up in businesses, property and equipment, annual taxes based on estimated values could force owners to borrow or sell assets, potentially reducing investment and hiring.
Explained simply
Scott Kirby is the chief executive of United Airlines, a large US airline. A wealth tax is an annual charge on a person’s assets, while an inheritance tax applies to wealth passed on after someone dies; the details depend on how a law defines taxable wealth and sets its thresholds.
The debate centres on how to tax very wealthy people while accounting for assets such as businesses, property and equipment, which may be valuable but hard to turn into cash. It also raises questions about whether inherited wealth can entrench advantage, and how tax rules might affect investment, jobs and people’s ability to pass assets to family.