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« Peanut Heresy in Virginia | Main | The apology »

December 26, 2006

Comments

Sean Pecor

First of all, I like the "idea" of taking excess money from the top and re-distributing it to the bottom, and spurring on the economic engine. But in my experience the richest 1% are already doing this on their own; they donate heavily to their Alma Mater enabling ever more scholarships and grants, they donate heavily to local charities, they donate heavily as seed investors in regional businesses, they keep substantial monies in stock portfolios that enable today's entrepreneurs and small businesses to push new products to market, and so on, and so forth. Typically when they die the give a substantial amount to certain key charities or to their religious institution. Bill Gates is a great example; each of his children are set to receive something like 20-30 million each as inheritance, and the remainder is going to his foundation. I think that the strongest proponents of the estate tax are really more concerned with controlling HOW the wealthiest 1% spend their money. In other words, with so much money changing hands, I think the politicians and lobbyists pushing the estate tax would prefer to have that money to do with what they will, which all too often is a pork barrel here, and a bridge to nowhere over there.

Don't get me wrong, I'm happy to pay taxes. But if you're going to take my money, take it while I'm alive. Estate taxes are too much like retroactive taxes. Or, put another way, you're being penalized for not spending enough money while you were making it!


Sean

ocracokewaves

Well, if Bill wants to pay his money, I don't want to stand between him and the tax collector.

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