>>>It's pretty easy, really.
>>>90% tax rates on inherited wealth and much higher tax rates in the very high income brackets.
>>>I'm flexible on the deductible amounts, but passing along billions is unacceptable.
>>>Those rates were in place after WWII - and the country prospered - but they were gradually eroded by the anti-government rants of the wealthy.
>
>I know a US gazillionaire family with all assets in trust from which giant ca$h crumbs fall for the wastrels. Their inheritance? $0. Perpetual trusts shield from capital gains and death taxes, as well as personal liability in the event of a business faiilure.
And therefore it's OK and inevitable?
At one time we thought that birth entitled people to thrones.
At one time we thought that people were property.
Worth, not birth, matters.
Anyone who does not go overboard- deserves to.
Malcolm Forbes, Sr.