Some people like to call the estate tax the "death tax" because it is the fee that the government charges rich people for their death. I like to call it the "jealousy tax" because the main arguement that I hear in favor of it is "Why should they get all that money?".
There may be some validity to the "redistribution of wealth is good for everyone" argument, but I haven't read enough about it to believe or refute it. But since people only really care about visceral arguments (otherwise there would be no protectionists), I'm going to talk about that one.
Basically, the arguement goes like this: The children of wealthy parents didn't do anything to earn their forturne, they were just lucky enough to be born into a rich family. They didn't have to work for it (working hard is the American way). AlsoI wasn't born into a rich family so therefore they don't deserve to inherit all of their parents money. Some of it must go me. Well, the all knowing, beneficent government, at least.
We'll ignore that a good portion of the people that actually make that argument were born into middle class households and had all of the advantages associated with that (not to say that people can't rise up out of poverty, it's just harder to do). Do they feel guilty when they drive through the ghettos, to the point that they want to give away half of their stuff?
What I really want to point out is how the parents (or ancestors) must feel. They managed to build up this wealth that has others so jealous. If I was extremely wealthy, I would want my children to be taken care of. I would want to give them every advantage that I could (heck I'm not extremely wealthy and I feel that way). If I didn't want to "burden" them with the wealth, that could be my choice but I would also want the option of giving them everything I worked for (or everything I've worked to keep, as the case may be).
I think it's disgusting that people want to dig into the pocket books of other people and still want to believe that they are doing good.
Thou shalt not covet.
mwz
2 comments:
mzw-
But isn't everything taxed? Like if you win the lottery, aren't you taxed for that? There are luxery taxes, taxes on imports, taxes on everything, taxes, taxes, taxes. I just wish our tax money could be used more wisely. But I think, rather, that most government programs that are so steeped in politics that they don't have a popsicle's chance in the sahara of getting the support they need to actually succeed.
But I agree, the estate tax just feels wrong. I mean, some rich person dies, and the first thing (the only thing) the government does is step in to take his or her money. It's tacky.
CTG, your starting to sound a little like a libertarian... ;)
BTW, I'm not a real big fan of double taxation. I think sales tax should either get wrapped up in income tax or the other way around.
Post a Comment