Quote:
Originally Posted by MRM
The middle class and comfortably well off should not be hit with estate taxes. The rich and very rich made their money off the American public, they can return some of it when they die. The children of the rich did nothing to earn that money; they benefited disproportionatly from society's bounty by the fate of being born well. They should be happy to pay some tax on it. I don't mean a confiscatory tax like in the 50s and 60s, a realistic tax that reflects that it is inherited wealth but still give the decedents an incentive to leave something to the kids. It's not like they're going to spend it on anything other than hookers and blow, anyway.
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Karl Marx is alive and well. Why is the gov't. more entitled to someone's money if they're rich vs. well off vs. middle class? It's theft, no matter how you slice it. Lottery winners did nothing to earn their money either. Why not just confiscate all their wealth too?
Warren Buffet and Bill Gates Sr. constantly write about how the death tax prevents generational wealth transfers from becoming a permanent aristocracy. But they are totally free to arrange their estates in such a way that their heirs don't become rich for nothing. Indeed, Buffet has done just that, while Gates Sr. is obviously not in the same league with his son. All people are free to arrange their estates such that their heirs get it all, nothing or just some. Why should gov't. theft influence that decision? All their wealth was not stolen. It was EARNED. It was TAXED. It produced JOBS. Why punish that further?