We can go back to the arguements about the estate tax in 1916

Reader comment on: Robert Rubin, Abigail Disney, and Julian Robertson on Estate Tax

Submitted by Lyle (United States), Jul 21, 2010 22:35

It should be noted that the tax was first imposed in 1916. It coming resulted in John D Rockefeller transferring most of his assets to his son before the law took effect. It would be useful to look at the arguments of that time, and compare them to today's statements. The statements about philanthropy are consistent in that many think that large inherited wealth rots the people who get it. (Gates for example does not think that people should inherit more than enough to live on comfortably.) The goal from their point of view is to prevent an aristocracy from arising.


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The Future of Capitalism replies:

There were some inheritance taxes imposed on and off before 1916, usually in connection with paying off war debts.

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