puffgeezer
Premier Member
Registered on
Apr-19-2002
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Message #173421 posted by puffgeezer (Info) March 17, 2008 22:57:28 ET
In Reply to: Re: Obama on religion and politics posted by Shootist (Info) March 17, 2008 22:29:46 ET
Shootist,
I have mixed feelings about the inheritance tax. Basically, I'm with you on the Libertarian view that the power to tax is the power to steal people's property. But then I think about the that the senior honchos of Bear Stearns that just went belly up because of gross mismanagement will probably collect the usual millions while about half of the 14,000 employees lose their jobs with some comparatively paltry severance package.
According to the IRS, the top 5% of America's earners make 35% of income and pay roughly 60% of taxes, but they also own about 2/3 of the nation's personal wealth. I'm beginning to think that the Buffett Solution may be a good alternative in this flawed world we live in. It's too late to repeal taxes or even to implement a flat tax; ain't gonna happen IMO.
Puff
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