Comments on: Bill Gates on Zakaria GPS

By: estate tax = pwnd « The Angry Librarian

estate tax = pwnd « The Angry Librarian — Sat, 25 Oct 2008 03:01:29 +0000

[...] father was skeptical about this whole idea, but was convinced by Bill Gates, who admits that it’s the American system that allowed him to make the money he’s made. [...]

By: Paul

Paul — Sun, 05 Oct 2008 21:22:54 +0000

(5) I don’t know which polling you’re following, but all the ones I’m looking at suggest a sweeping change is coming, but not the one you’re looking for.

The only thing that bothers me about that is I do believe checks and balances are important. We saw from 2000-2006 what one party controlling all 3 legislative branches can lead to, and it certainly wasn’t encouraging.

By: glenn

glenn — Sun, 05 Oct 2008 19:47:27 +0000

JCH you are the one with smoke and mirrors…go back over the Freddie and Fannie facts I presented and show me which ones are incorrect.

There is no smoke and mirrors in those data points. It clearly shows a planned path of deceit and corruption among the Democrats.

Just like the Republicans before them when they get caught they don’t like it but alas the truth will come out and hopefully these people will be removed from office.

By: JCH

JCH — Sun, 05 Oct 2008 19:44:38 +0000

Hardly anybody pays the inheritance tax. I will give you the name of the greatest wealth destroyer of the middle class:

medicaid spend down

But go on harping about a tax that a tiny percentage of all Americans pay, and which has a multitude of avoidance strategies. Conservatives are masters of the smoke-and-mirrors game.

Inheritance – gigantic yawner great big meaningless nothingness.

By: Paul

Paul — Sun, 05 Oct 2008 17:57:10 +0000

Another relevant element of the argument is the growing disparity between the wealthiest of the wealthy and the rest of us. Study after study show that the top 10% are experiencing far greater growth in their wealth than virtually everyone else, and that the middle class are getting squeezed out of existence:
http://www.csmonitor.com/2008/0414/p16s01-wmgn.html
and here:
http://moneycentral.msn.com/content/invest/extra/P143548.asp

As to Bush’s tax cuts and who they have benefited most?…the evidence on that is clear and is part of the upwelling of anger on the part of the American electorate. It’s “trickling down” to the wealthiest of the wealthy…Laffer’s theory, in my book and in the opinion of most mainstream economists, is a laugher:

http://www.csmonitor.com/2008/1006/p16s01-wmgn.html

By: glenn

glenn — Sun, 05 Oct 2008 17:42:51 +0000

They should make the inheritance voluntary then. Those that believe that can earmark it in their wills.

Estate and inheritance taxes are an absolute form of double taxation and in some states the Estate taxes over history have run as high as 90%.

By: Paul

Paul — Sun, 05 Oct 2008 17:39:32 +0000

I find it fascinating, and refreshing, that Gates Jr, and even more so his father, Bill Gates Sr., are proponents of keeping some portion of the estate tax. I’ve heard Gates Sr. speak on this and he is very compelling. Among his arguments is those that have benefited the most from our system and can afford to give something back should give something back.
There is a good interview with Bill Sr. and Chuck Collins, the heir to the Oscar Meyer fortune, pointing out the many fallacies conservatives perpetuate about the topic here:
http://www.pbs.org/now/transcript/transcript_inheritance.html