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Politics : American Presidential Politics and foreign affairs

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To: ManyMoose who wrote (9260)	6/10/2006 1:49:30 PM
From: Jim S	Read Replies (1) of 71588

Do you think that people with wealth in excess of 100 million will not get lawyers to figure out a way for them to avoid it? Under today's laws? Sure. We're facing pretty much the same question the "Trust Busters" faced in the early 1900s. The Rockerfellers, Vanderbilts, Gettys, and other large industrialists were rapidly accumulating a huge portion of available capital, to the point that they were becoming almost as powerful as the government. The draconian laws passed to slow their growth were probably unconstitutional, but they did the job of reallocating wealth. The point is, it is a good thing to be successful, and a wonderful thing to be very successful, but being hugely successful may not be the best thing for the economy as a whole. While I don't think a death tax is the best solution, I'm not sure any other means of disbursing immense wealth would be much better. Maybe that's why the foundations currently formed by wealthy families are allowed under current laws.

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