Friday, February 5, 2010

Estate Tax

I'm perturbed by the hiatus in estate tax for at least one year. That tax is a very limited levelling influence on society, which is sorely in need of such influences. Wealth has enormous tendency to accumulate, and while some of that tendency benefits society, its excesses - ie when most of the natiional assets reside in only a few hands - are distinctly harmful to the vast majority of the population. Besides, this is a very bad time in the economic cycle to introduce a new reduction of federal income.

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