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Pastimes : THE SLIGHTLY MODERATED BOXING RING

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To: The Philosopher who wrote (14235)	6/6/2002 6:57:44 AM
From: jttmab	Read Replies (3) of 21057

The real reason for the estate tax was that it was an easy pot of money to grab. Initially it only hit a few very wealthy people, whose political influence wasn't sufficient to protect their fortunes from a rapacious government. And the people who were taxed were dead. Perfect tax victims! Alternatively, wealth is almost always accumulated by tax deferred mechanisms. Real estate, stocks, options, the intrinsic value of a business. All tax deferred wealth under the current tax code. Only a miniscule portion of Bill Gates' or Warren Buffet's accumulated wealth has been ever been taxed. Estate taxes are a point in time when the government can collect on those deferred taxes. jttmab

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