Raise the Estate tax to 90%+

nwilliniwek

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Tuesday November 27, 2012 · 8:12 AM PST

2012/11/27 · 08:12

I'm currently reading Andrew Carnigie's biography. He was a Republican and believed in making as much money as possible. He often overworked his employees and busted unions (he did go back and forth on this belief) but he fervently believed in giving away all you acquire.

His philosophy was that passing down wealth ruined the children. Mitt Romney is an interesting example of this.

Now he was no softie that current Republicans could easily dismiss. He was against giving alms to the poor or needy since they would continue to be lazy - something today's republican could get behind. He believed that the money should be used for public works such as schools, libraries etc.

The earning of millions created jobs and that money should be used to improve the community was his philosophy. So I say embrace the job creator argument. Encourage making all the money you want. But the money must be spent. And to encourage this behavior - raise the inheritance or "death" tax to 90 or even 100%. That would stimulate the economy, even the playing field a bit and ease class disparity.

It would certainly be an interesting addition to the current tax argument. After all it was the philosophy of the richest man in America.

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