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NotThamesWater
starfish&coffee
The tricky thing about inheritance tax is that resourceful members of the middle- and upper classes can find ways of getting around it. Gifting property to heirs before they croak it being the obvious method.
From my personal observations inheritance tax only really bites the ones that didn't around get to plan these things in advance of dying, and those people are not necessarily the wealthiest members of society.
Inheritance has limited effect as a social leveller - but it could still be argued to be fair in other ways of course.
Also:
@spiderpie Your argument did imply a zero-sum game. Yes, this is putting words in your mouth, which is rhetorically sound in this case.