Posted by
Playful Walrus on Tuesday, December 21, 2010 8:01:36 PM
Los Angeles Times columnist Tim Rutten wrote about the estate tax, and it prompted some
letters to the editor that were printed.
Michael Napoliello of Manhattan Beach:
Tim Rutten's arguments for keeping the estate tax on the wealthy assume that wealth somehow impoverishes another person or the country as a whole.
As wealth is acquired, it must be either put in a bank (which in turn invests in the community) or put to work (an investment in industry that creates growth for our nation).
Capitalism uses resources and labor to make more resources, creating wealth, and has raised millions of people out of poverty. Taxation simply redistributes wealth involuntarily, discouraging wealth creation and incentivizing dependence.
The only way wealth impoverishes anyone is when it is taxed.
The estate tax is a shameful form of double taxation. Repealing the estate tax for everyone is the fair and humane stance.
Couldn't have written it better myself.
Nate Tucker of Costa Mesa:
I hope the "conservatives" who have been voting against their self-interest look up the word "oligarchy," because that's where we're heading.
"Gutting" the estate tax is one more step toward dominance by the rich and one more step away from the fading American dream.
The evidence for this is simply not there. Oligarchy is aided when we centralize more power in the federal government. Want as many people as possible to be able to earn wealth? Support free markets and limited government.
All of the people who want higher estate tax rates are free to request that more of their own estate be handed over to the federal government upon their death.