alt Hacker News> Since Tandy was a private company, his death would have forced a liquidation of the company in order to pay the inheritance taxes.
So much value is destroyed by this form of taxation. It's inherent in having to liquidate much wealth in a short period of time. There should be a way to match the time scales better, as opposed to forcing a company to go public. Like putting non-voting shares into escrow and allowing them to be sold over years or decades.
This would come with the loss of taxes as businesses go under, but at least some offsetting increase from successful businesses that are allowed to continue operating.
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There are so many mature and overly effective modern means to preserve wealth. Modern trusts, LLCs, corporations ad nauseum. It is embarrassing to make such a claim "(s)o much value is destroyed by this form of taxation" in 2026; So much concentrated and localized value was potentially diverted back then under such specialized and naive conditions, which is far from common now. And to the point, it merely could have happened and actually did not.
It destroys long term wealth buildup. Many stately homes in the English countryside are rotting due to this tax.
Only in cases of owners who fail to perform basic estate planning.