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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (320406)	1/13/2007 7:21:46 AM
From: Road Walker	Read Replies (1) \| Respond to of 1575767

re: The effective rate paid is much lower for a number of reasons. First their is an exemption (currently the first $2mil doesn't face the tax), and then of course you have the trusts and loopholes. It would be difficult, socially and politically, to eliminate the charitable trusts (thinking Gates and Buffet here). But limiting the trusts that benefit heirs could probably be accomplished. And I think the argument stands that if you have to tax, then taxing unearned money going to heirs from their inheritance is more socially productive than taxing working earners the same gross amount. Lot's of really rich people are going to die in the next 30 years... they earned it, thanks to our open, capitalist society, but they can't take it with them. Why not recycle it in the form of an income tax cut for those that are still productive?