I could be wrong, I've never looked into tax when it comes to estate, but wouldn't your daughter be taxed at 100% from the income she's gaining from you

No, we have no inheritance or estate tax.

This post was edited by Plaguefear on Feb 6 2021 06:22pm

what about income?

Higher than america but more than made up for by 100% free healthcare.

I meant, does that count as income or is it just a transfer of ownership

The latter.
Australia does not even tax gambling winnings.
If you win 100 million on the lottery you get 100 million in your account.

This is the feller trying to justify literal government laundering of money as "capitalism".

I just can't.

The Obama's are both very smart, highly educated, and at least Barry is also uniquely gifted as a public figure (charisma, orator and so on).

To be quite honest, I think that if he had sold his soul and become a corporate lawyer in 2004 (instead of pursuing a career in politics), he would also have made it to a net worth of $100m by now.

This post was edited by Black XistenZ on Feb 6 2021 07:03pm

that doesn't mean he should still be entitled to insane wealth because of a hypothetical

No, but a net worth of $100m is not out of the ordinary for a man of his abilities. Many people still think that one hundred mil is this scary huge figure, but it actually doesnt really prove that he went into politics to enrich himself, nor does it prove that he was a particularly corrupt president.
The Clintons, on the other hand...