Updated

Updated · Yahoo Finance · Oct 20

United CEO Scott Kirby Backs Near-100% Inheritance Taxes and National Wealth Levy

Updated

Updated · Yahoo Finance · Oct 20

United CEO Scott Kirby Backs Near-100% Inheritance Taxes and National Wealth Levy

Q: What did Scott Kirby leave unexplained about who would actually pay under his proposed wealth and inheritance tax approach?

Kirby left unclear the basic trigger points of his proposal: he did not say how much net worth would be subject to a federal wealth tax, or how large an inheritance or estate would have to be before taxes rose to “close to 100%.” That missing detail matters because it determines who would actually bear the burden. A near-total tax starting only at billionaire-level fortunes would affect a very small group, while a lower threshold could reach many more affluent households, family business owners and heirs. He also did not explain whether he meant a true inheritance tax paid by beneficiaries, an expanded estate tax paid by the estate, or some combination of the two. He likewise gave no specifics on the rate structure, exemptions, treatment of spouses and children, or how illiquid assets such as private companies would be handled. Under current law, the federal government imposes an estate tax, not a federal inheritance tax, and only on amounts above roughly $15 million per person in 2026, with a top rate of 40%. So the unanswered question was not whether Kirby wanted the wealthy to pay more, but exactly where he would draw the line between ordinary affluent families and the ultra-rich—and who, in practice, would end up paying.

3 articles · Updated · Yahoo Finance · Oct 20

Scott Kirby said wealth inequality has become “a danger to our society” and called for a national wealth tax plus inheritance taxes that get close to 100% at some level.
The 59-year-old United Airlines CEO raised the issue while answering questions about waning trust in CEOs, saying higher taxes on the wealthy should start with people like him.
Kirby made the comments in a wide-ranging New York Times interview that also defended seat-selection fees and higher fares, arguing that “it’s expensive to fly airplanes.”
Federal law currently has no inheritance tax on beneficiaries, while the estate tax exempts up to $15 million per person; only 0.2% of estates are large enough to owe it.
His stance aligns him with wealthy-tax advocates such as Bill Gates and Warren Buffett, even after Republicans made lower top-end tax rates permanent under Trump’s latest tax law.