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Real-estate speculation is basically rent-seeking, but inheritance is not. If someone amasses a fortune by creating wealth and leaves his assets to his offspring, they are not parasitic even if they never work. What matters is how the wealth was originally accumulated.

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Why do you believe that inheritance is not parasitic or rent-seeking behavior? Large fortunes exert a gravitational effect, attracting more money and thus making their owners much more powerful than they would otherwise be.

The way I see it, the unchecked growth of intergenerational wealth is how we end up with aristocracy, and I would rather prevent aristocracy from rising than try to overthrow it once it's entrenched.

Actually, most fortunes go to zero within a few generations. The “1% squared”—the top 0.01%—is not a monolithic group of people. I’d wager that 90% of the 0.01% had grandparents who were not even part of the 1%.

I don't find your argument persuasive.

Okay.

And the wealth may never have been accumulated in the first place if inheritance were illegal.

Also true. See, e.g., Breaking Bad ;)

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