Comments: The American Economic Problem

This analysis seems to say that all taxes are good, and the higher the better. Does the author really believe that taking money away from people (no matter who they are) makes them spend more?

One could accomplish the same goals by advocating inflation. This make the holdings of the rich worth less by letting the goverment spend them! Again the end of the direction the author advocates would be worthless dollars.

I would like the author to express better what kinds and levels of taxation he believes to be optimum. Then I could judge my level of agreement better. As it is, I would rather spend my own money, thank you.

A suggestion, however. Rather than oppose the elimination of the estate tax, how about a modification. Put the tax upon the person inheriting rather than on the estate. [Think of it as fee for service in making sure that the inheritance goes through smoothly]. Let anyone get rich by an inheritance [ie start the tax at 10 million dollars, indexed]. This would encourage the very rich to distribute their worth among several [many] heirs. This would let people work hard to accumulate their own wealth and distribute it as they please (but if they try to accomplish a concentration of wealth they must pay an increasingly steep price).

Again, rather than fight so hard against the tax freedom of individuals, look at the status of foundations, with tax exemption and little oversight on those who benefit from supporting them.

Posted by Art bolstad at June 2, 2004 07:33 PM
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