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Politics : PRESIDENT GEORGE W. BUSH
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To: DuckTapeSunroof who wrote (700201)9/7/2005 11:57:37 PM
From: Peter Dierks  Read Replies (1) of 769670
 
"Then --- even if we assume the above favorable set of circumstances --- I feel CERTAIN that an EQUAL DOLLAR AMOUNT of tax reduction, in nearly ANY OTHER TAX, would result in even LARGER 'potential job gains' for society, then would be produced by estate tax reductions. Dollar for dollar."

Even if that were true, the immorality of double taxation would overweigh any tax considerations. Our Founding Fathers kept the federal government poor intentionally. (A poor fed cannot tinker in states issues. Disparity between the states produces differential results and the more productive differences are rewarded with greater growth. This results in migration, enhancing growth.)

The FF's did however include a prohibition against Double Jeopardy in prosecution. If they had envisioned any future Americans would be stupid enough to enact an Income Tax, they probably would have prohibited double taxation as well.

However, that being said, the only tax with a greater potential for adding growth into the economy is to abolish the capital gain tax. But these are two sides of the same coin. The same people who have capital gains are the ones who leave estates. Those who inherit estates are prone to either invest the estate or squander it. Either way the economy benefits. The invested money creates jobs. The squandered money circulated through the economy several times, which also results in job creation. Both of these result in increased tax revenues.

What appears to be your view of taxation has fallen into disfavor, which is why the CBO has started to cautiously use dynamic scoring.
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