Raise the Estate Tax to 90%
Inherited wealth kills capitalism. A capitalist society is one in which, if you work hard, and produce high quality work, you will get paid well... If you don't, you won't. While the country is deep in debt, the people we look to first to help us solve this problem, should be, the people creating it... People who don't work, and inherit enough money to survive and thrive forever. The estate tax doesn't even begin to ...more »
Inherited wealth kills capitalism. A capitalist society is one in which, if you work hard, and produce high quality work, you will get paid well... If you don't, you won't. While the country is deep in debt, the people we look to first to help us solve this problem, should be, the people creating it... People who don't work, and inherit enough money to survive and thrive forever. The estate tax doesn't even begin to be charged unless you inherit more than 2.5 million dollars from your family. Capitalism protects earned wealth, and it protects people that want to help their family have a better life than they did. It does not protect unearned wealth, it does not protect European style arristocratic inherited wealth. You are not born, having done all the work you need to do. No one would be happy if they were born that way. Raising the estate tax to 90%, on people being paid more than 2.5 million dollars to be born, would generate enough revenue to slowly but surely pay down the national debt. It's that simple. You can't be against welfare, and for lowering the estate tax, they create the same thing, unearned wealth. Unearned wealth is the enemy. It makes everyone miserable.
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