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Inheritance taxes eliminate the persistance across generations of power and wealth. However, since the bush administration chose to repeal estate taxes, they in
by Tangurena 18y ago
Inheritance taxes eliminate the persistance across generations of power and wealth. However, since the bush administration chose to repeal estate taxes, they intended to return the US to the sort of nation with a hereditary aristocracy.
In IT, we saw the problems with "credentialism" in the problems with "boot camps" and the "paper engineers" who came out with CNE/MCSE credentials who also were basically useless.
- anamax 18y ago> Inheritance taxes eliminate the persistance across generations of power and wealth. No they don't. The persistence of the Kennedy s and Rockefellers demonstrate otherwise. US inheritance taxes just hit family biz, and destroy them because the tax bill can only be satisfied by selling the biz. The wealth of the truly rich (Gates et al) is not subject to inheritance tax. It is, however, passed on. (What - you thought that the Gates foundation was to do good?)
- ehabkost 18y agoThe whole article is about a common way to persist power and wealth through generations, a method that can't be eliminated by inheritance taxes. And you believe inheritance taxes would eliminate the persistence? Did you read the article? 8)