Originally Posted by TBell
Second, the estate tax dates back to the times of barons like the Rockefellers. The worry rightful so was hoarding such wealth in a particular family would be a threat to the american way of life. The more money you have, the easier it is to make more. Eventually in time, your family can acquire all the countries wealth. Essentially certain families could bypass government and control the american way of life, turning us all into slaves. Allowing a few families to acquire all the wealth is dangerous.
OH GIVE ME A BREAK!
The more money you have, the easier it is to make more? In a free market, which people like you are constantly trying to dismantle, it doesn't work that way. That's why the richest people in our country today came from families that weren't even on the map a generation or two ago!
Steve Jobs, the founders of Google, Microsoft, Fed Ex, Genentech, Intel, WalMart, Yahoo, Amazon, Facebook, etc. etc. etc....they don't come from The Rockefellers, Vanderbilts, Fords and Carnegies, do they?
No, they don't. And when the Rockellers, Vanderbilts, Carnegies and Fords came up in the world, they all came from incredibly modest families as well. None of them were scions of the old rich families that came before them.
The idea of great families amassing all the wealth and controlling the country is ridiculous, and is completely DISPROVEN BY THE FACTS. In a free market, wealth is destroyed as easily as it's created because the market is always changing in unpredictable ways (until, of course, government regulation turns the churning waters of a free market into a static lake), and the people that amass a lot of wealth in one generation are rarely ever the top players in the next generation.
Plus, the record shows that much of inherited money is invested in business, and whether those businesses succeed or fail, the investments generate a lot more legitimate economic activity for the country than the government taking the money and using it for god know's what. More free entitlements that depress human initiative, instead of encouraging it?
It's so sad that our country can defend itself from any foreign powers on the face of the earth, but increasingly looks like it will succumb to the naive attempt to "spread the wealth around" without understanding or encouraging the traits that created the wealth in the first place. You can't encourage human initiative by taking money from the earners and handing it over to the non-earners.