Inheritance tax on rich likely

It's good for a wealthy person to suggest an inheritance tax on rich people, but it's not the right time to impose it, says an article on the website www.china.com.cn. Following is an excerpt:

Chen Guangbiao, a successful businessman, philanthropist and also a member of the National Committee of the Chinese People's Political Consultative Conference, recently told the media that he would propose an inheritance tax on wealthy people.

Chen said such a levy should be at least 60 percent of their net wealth as a way to repay the society. "It's a shame to die with a huge wealth," said Chen.