The estate tax is of a piece with such a social view. There are legal devices that can reduce estate taxes, but even these ultimately yield a diluted fortune, despite the efforts of estate planners. Sooner or later, some beneficiaries down the line will have to think again about earning a living. Our national myth holds that any American child will have the opportunity to gain great prosperity. The corollary is that there will not be a class that is privileged by birth, forever.
Estate taxation can even be of value for the very rich.
I do not envy persons born into extreme wealth. They may be robbed of the ability to establish the self-worth that comes through competition. They may have difficulty in knowing who is a friend, and who is a suck-up. They have the means to become wastrels. Soon, the amount of wealth moved from generation to generation will be astonishing.