Posted by taxguru on June 19, 2002
Who Supports Estate Tax?
Bruce Bartlett has a good piece on the super rich fat cats, such as Bill Gates, Sr., who are fighting to retain the estate tax, while most of the rest of us normal folks consider it to be evil. He explains why they would support something that theoretically should hurt them the most.
The super rich, such as America’s royal family, the Kennedys, have the money and resources to set up trusts and other mechanisms to exempt themselves from the estate tax. Joe Kennedy’s loot from his bootlegging & stock swindles has lasted for generations of non-productive spoiled rich kids due to his wise use of trusts to shield it from estate taxes.
Interestingly, Mr. Bartlett is still too squeamish to make the connection between supporters of government wealth confiscation and its heritage as part of the Communist Manifesto.
KMK
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