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

To: Peter Dierks who wrote (697921)	8/26/2005 4:17:07 AM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769669

[...I believe a well-designed (not too high rate, high wealth threshold to trigger) estate tax produces FEWER HARMS to society and the national economy then EITHER taxes on WAGES, or taxes on CAPITAL GAINS or INVESTMENT EARNINGS.] "Estate taxes create disruptions in the economy." As ALL taxes.... "It has taken millions of family farms. It has caused the premature sale of perhaps millions of family corporations." PROOF?????? That sounds ridiculously high. (Perhaps you are thinking of the WW II years... with a top rate --- income and estate, I believe --- of 90%? Even then, the vast majority of very large estates escaped most of the levy. "Millions"? I don't think so. You could probably not find anything even close to a hundred last year, for example.) "A simple flat wage tax would work." Amen! If you could eliminate most of the special interest loopholes, and tax ALL INCOME (regardless of source) at the same rate, an 'income' tax, not a 'wage' tax... I'd be aboard with that proposal in a FLASH!