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Markets have completely failed - a simple lesson | 94 comments (94 topical, editorial, 0 hidden)
The big question is how to keep that from ... (none / 1)
... being rolled back if implemented.

I still like the idea of converting the estate tax to a cumulative gift tax, with the first $2m of gifts received free of gift tax, then next $2m at 25%, then next $2m at 50%, then 75%, then 100%.

That would break the aristocracy of self-perpetuating fortunes, as marginal income taxes even of 90% at their height in the US never could.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Fri Sep 19th, 2008 at 01:02:41 PM EST
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Markets have completely failed - a simple lesson | 94 comments (94 topical, 0 editorial, 0 hidden)
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