Wednesday, April 13, 2005

Nuts

Steve Sailer on the Republican plan to eliminate the inheritance tax:
Eliminating the inheritance tax on the richest of the rich is nuts . . . This really shouldn't be controversial. I can't think of a logical reason why we will have a progressive income tax but not an inheritance tax on the extremely rich . . . The Democrats should pick a round number like $10 million for couples for the minimum taxable estate, something that the average person would agree is plenty-with-a-capital-P, and stick to it. Heck, set it at $50 million, but there needs to be something, both to narrow the deficit and to keep wealth from piling up generation after generation into a hereditary super-aristocracy.

He's right. He might have added that when they pick a number, it should be indexed to inflation.
What is particularly appalling is that the Republicans favor this sort of thing(and all of their other tax cuts) in the face of their massive expansion of government (except, of course, in guarding our southern border). It can't be said too often -- the Republicans are the party of fiscal dishonesty. They run up big deficits when they get into power, and let others figure out how to clean up the mess later.

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