>So do you advocate inheritance taxes?

Absolutely. After a reasonable deductible I'd tax at 90% or more. I have no problem with passing on a few millions. I'm after the billions.

>> almost wiped out aristocratic ownership of/ability to maintain stately homes in the UK at one point, fwiw.
If the people think that those places are worth preserving, they can provide government funds to help maintain them.
But those aristocrats shouldn't get all that money tax free, period.

>> Might be better to lightly tax all transactions
Maybe so. But it's not either or.
Massive inherited wealth is a social problem as much as an economic one and taxing is the logical way to cure it.