This is the Archive site for Firedoglake. To go to the main site please click on the following link

Thursday, April 14, 2005

For Those Undecided About the Inheritance Tax

From Richard Joel at Pax Nortona (via Feministe):
I think the Bushes are an excellent example of the principle I am about to invoke and the harm it does: most parents are unable to recognize the mediocrity of their children. The effect this has plays out the hardest in wealthy families where money is often transferred to second or third rate talents. Socialism, interestingly enough, does more to create a system where the most talented can rise to the top than faux libertarianism (which is really capitalism). In the ideal socialist society, there is no chance to transmit large sums of money as inheritance: this money is transferred back into the common pool to be redistributed, the greater portions going to those who make the greatest contributions to the economy....When I hear Barbara Bush defend all her sons as “good boys” I hear the very reason why we should renew heavy inheritance taxes: we can’t afford to allow the less-merited to decide the course of our lives.
I'm still reeling from the nitrous at the dentist's office this morning, but this makes sense to me. President Lucky Sperm indeed.