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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (682547)	5/18/2005 1:56:01 AM
From: Peter Dierks	Read Replies (2) \| Respond to of 769670

Of course. And, as I pointed out, there are innumerous ways to achieve either of these.] "Actually, I just saw the statement. You have not proposed any of the alternatives." :) Apparently, Peter, either your memory failed, or else you simply forgot to click back one level to my post where I mentioned SEVERAL (but made no effort to claim that it was an exhaustive list... undoubtedly many, many other policy changes are possible): Message 21322776; The proposals were unrelated to the problem. The more you disassociate government payments from revenue sources the more potential for abuse. I maintain that the only two ways to address the Social Security morass is to increase taxes Democrat plan) or reduce benefit increases. You cold combine the two. Using DEATH TAX to fund Social Security is a terrible idea. "The reason Death Tax is completely immoral is because the money has already been taxed multiple times." But EXACTLY THE SAME THING CAN BE SAID ABOUT MOST EVERY TAX! So, that is hardly a special condition affecting the Inheritance tax. Personally, looking at taxes side-by-side, I'd have to say that the inheritance tax has a LESS HARMFUL EFFECT on capital formation then EITHER the wage tax or consumption tax. Death Tax punishes people who have lived a frugal life. It punishes people who have accumulated wealth and created jobs through the businesses they own. It also punishes our economy. People who receive inheritances are many times more likely to spend the money than to invest it. Spending magnifies several times through the economy. The Death Tax just benefits the government once as they remove the money from the economy. Other taxes may or may not apply to previously taxed monies. Death Tax definitely does. Proposals have been made to eliminate income taxes and only tax consumption. This is, IMHO, the fairest system. Those who wish to be perceived to be rich pay the most taxes. The rich who chose to invest their money instead of spending it benefit the economy with jobs and capital.