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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Karin who wrote (15059)	7/16/2000 6:56:38 AM
From: Sam	Read Replies (2) \| Respond to of 15132

You know, your "outrage" over the so-called "death" tax can be pretty ridiculous. First of all, it doesn't take 55 cents on each dollar after 675,000 dollars. It is far, far more complicated than that, the highest rate doesn't kick in till millions of dollars, and so few people pay it, it is ridiculous. Second of all, I don't know anyone who says to themselves (contrary to what a few economists and a lot of politicians who get their political contributions from wealthy people claim), "Gee, I'm not going to save any money, cause why bother, the government will just take it when I die anyway". This is silly. People who are fortunate enough to actually have to think about this issue as it affects them say things like, well, maybe I should give some money away, since why give it to to the government. But that, in fact, is the point to the estate tax. We don't really want to make it too easy to pass humongous amounts of money intergenerationally. To say that, well, the exemption on the estate tax is too low is a completely different thing from saying that it should be abolished entirely. Machiavelli long ago suggested that every so often, a few of the so-called "great" men of any well-run city should be taken out an hanged in the public square, just to keep all men honest, and keep them from aspiring to too much power. That is what the estate tax does in a kinder, gentler, far more ingenious manner. It is worthy of the best of our Constitution, which recognizes so well the always dangerous foibles of people who are involved in politics and making large amounts of money. Machiavelli had some very cogent reasons for his suggestions, which all true conservatives should appreciate. Study history, and especially his books like his "Discourses", to learn them. It is a sick joke that people who keep calling themselves "conservatives" keep advocating the abolition of the estate tax, shamelessly pandering to the very wealthy.

To: Karin who wrote (15059)	7/16/2000 3:13:13 PM
From: Jon Stept	Read Replies (2) \| Respond to of 15132

Karin, re:Estate tax... Hi Karin, I am interested in your logic surrounding the repeal of the Estate Tax. I don't understand why it should be repealed, as any tax should (like capital gains) unless it is done as a result of a tweaking of the system in general. For example, the Estate Tax is one of many taxes that is a form of an income tax. If I receive income, from whatever source, than that income (capital gains, wages, inheritance) is subject to taxes. It appears that a repeal of the Estate Tax would allow inheritance as a source of untaxed income, which inconsistent with the tax system which taxes all income. That is my opinion, and I look forward to hearing yours too! Jon :)