A key part of the GOP Leave no Millionaire Behind program is the total elimination of the estate tax. NOW had a fine piece on the subject noting that no one has been able to find a family farm that failed as a result of estate taxes and that only the very wealthy and very greedy are helped. Bill Moyers had a fascinating interview with Bill Gates Sr and Chuck Collins on the subject. Both of them are against the elimination of the "death tax" and suggest that it is a fair and even a patriotic tax.
It is remarkable that Bush et al were able to work up so many people about the "unfairness" of the "death tax"... The people it impacts have received enormous priviledges from public funds. If the tax was 50% on anything over $3.5M someone with $25M would still be able to give over $14M to their heirs. Arguing that someone needs to be able to give more than $3.5M to their heirs suggests a belief in the sort of systems that resulted in a revolution in 1776.
A deeper issue is that many people who will never become members of the wealthiest 1% ruling class of the country still support freebies to that exhaulted group. Perhaps they think there really is a change at mobility to the upper class and, that if they become wealthy, it is the right of that class to be greedy and powerful. If this is the case, large lotteries, PCH Sweepstakes and the salaries atheletes may be a powerful tool helping Bush and his friends convince the clueless masses.
On a lighter note the New Yorker recently suggested the next Bush stimulus package might be the elimination of any taxes on hiring domestic help:-)
11:24:46 AM
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