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View Diary: I am the 2% (92 comments)

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  •  There is no such thing as "double taxation" (20+ / 0-)

    Money doesn't change color when it is taxed.  If a dollar was taxed in 1924, does that mean it now magically remains tax free forever?

    Most of our taxes are levied at the point that money changes hands  - money comes from your employer to you, from an investment to you, from you to a merchant, etc.  

    The estate tax is the same - money is changing hands from you to your children or other heirs (not your spouse, btw, since there is no estate tax between spouses).   The estate tax is every bit as valid as an income tax, since it is essentially an windfall of income to people who in most cases have done little or nothing to earn it.  

    The estate tax also severs an important social function, by putting at least a partial break on the development of hereditary wealth-bases aristocracies.  We are already seeing too much of that in this country for my liking.  Do the names Bush, Romney, Walton, and Koch ring a bell?    

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