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CBHagman

(17,491 posts)

32. And here is where I mention that Bill Gates Sr. is an advocate for keeping the estate tax.

Sun Jun 10, 2012, 08:33 PM

Jun 2012

From 2007:

http://www.politico.com/news/stories/1107/6856.html

In the end, estate tax opponents will complain that preventing people from passing on 100 percent of their wealth to their heirs is “just not fair.” But we greatly diverge on this philosophical point. The estate tax — our nation’s only levy on accumulated wealth — is the fairest and most important tax we have.

It puts a brake on the concentration of wealth and power, generates substantial revenue from those most able to pay and encourages billions of dollars in charitable giving each year. The estate tax is not only fair but an essential component of our nation’s economic dynamism.

Without our society’s substantial investments in taxpayer-funded research, technology, education and infrastructure, the wealth of the Forbes 400 richest Americans would not be so robust.

The estate tax is an appropriate mechanism for those with great wealth to pay back the society that created a fertile ground for prosperity

Other links:

http://wealthforcommongood.org/oneida-daily-dispatch-estate-tax-breathes-life-into-economy/

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Why haven't we heard of Jamie Johnson, heir to the Johnson & Johnson fortune? a GREAT [View all] angstlessk Jun 2012 OP

I've watched them both renate Jun 2012 #1

If I am not mistaken one of the Oscar Meyer heirs gave his money away and became a socail worker. jwirr Jun 2012 #28

I'm inclined to think Aerows Jun 2012 #38

Really? Perhaps some of these folks TBF Jun 2012 #43

I wouldn't assume Aerows Jun 2012 #48

You're reading what you want into my words. nt TBF Jun 2012 #49

Bookmarking . . very interesting. . . .n/t annabanana Jun 2012 #2

This film Born Rich is one of the best arguments out there for a confiscatory Egalitarian Thug Jun 2012 #3

what exactly is a confiscatory inheritance tax? cali Jun 2012 #5

Something along the lines of 40% after $3M and progressing to 99.99% at $1B. Egalitarian Thug Jun 2012 #7

ah, thanks. cali Jun 2012 #8

That's curs�d generous! Mairead Jun 2012 #12

There is no reason except that we tend to project our own wishes onto others. Egalitarian Thug Jun 2012 #17

I bet people would go for it if the upper bound were $1M...or even $500K Mairead Jun 2012 #19

Real estate valuations require a pretty high dollar starting point or you get into Egalitarian Thug Jun 2012 #21

Make an exception for farms, as long as they remain farms Mairead Jun 2012 #40

As for Sam Adams being a Chickenhawk, please elaborate. n/t Egalitarian Thug Jun 2012 #23

Not much more to say, really Mairead Jun 2012 #39

Out of a nation of 3,000,000 or so, only 40,000 served in the Continental Army. Rittermeister Jun 2012 #52

Quite right. But very few of them constantly urged others to fight Mairead Jun 2012 #62

$3m sounds vaguely reasonable Rittermeister Jun 2012 #53

Well for the sake of humanity, do something good with it. Egalitarian Thug Jun 2012 #59

Firstly, I probably won't see a dime of it for another twenty years. Rittermeister Jun 2012 #60

Ivanka Trump said something I thought was funny hfojvt Jun 2012 #4

Ivanka = her dad's laissez-fail beliefs minus the Birferism. HughBeaumont Jun 2012 #22

"The public will get what the public wants...." MindMover Jun 2012 #6

very good stuff. thanks for sharing. Schema Thing Jun 2012 #9

If you take a look at about the 56:00 minute mark, Schema Thing Jun 2012 #25

This message was self-deleted by its author Schema Thing Jun 2012 #26

It truly upsets rich people to ask them about their privilege. shcrane71 Jun 2012 #10

To build great wealth, you have to be greedy and selfish. tclambert Jun 2012 #14

Greed and selfishness will get you rich, but to get to this level requires serious criminality. Egalitarian Thug Jun 2012 #18

Well of course it does - TBF Jun 2012 #44

IIRC, when he made his first documentary, some subjects... Hassin Bin Sober Jun 2012 #61

Reccomending and bookmarking. progressoid Jun 2012 #11

For later Lucky Luciano Jun 2012 #13

Just watched 1%, very good, thanks. firehorse Jun 2012 #15

Thanks...didn't know about this. Added to Netflix cue. KoKo Jun 2012 #16

I watched close to half of the first film and loved it. JDPriestly Jun 2012 #20

Don't know about Kinko's, but you should dump Bill Gates as your example. Egalitarian Thug Jun 2012 #24

You are probably right. JDPriestly Jun 2012 #29

"Born on third base and thinks he hit a triple" describes the heir to the First Interstate banking Egalitarian Thug Jun 2012 #31

And here is where I mention that Bill Gates Sr. is an advocate for keeping the estate tax. CBHagman Jun 2012 #32

I know. We completely agree, I just have the advantage of being able to see it objectively. Egalitarian Thug Jun 2012 #33

Interesting chart. And family farmers could avoid the tax if they used JDPriestly Jun 2012 #51

Just watched the first one, wow! Starry Messenger Jun 2012 #27

Just finished watching the first one. annabanana Jun 2012 #30

I came back to this thread and, so far, I have watched all of the first film. JDPriestly Jun 2012 #34

+1...Your review is is good synopsis of what I felt...just having finished watching it. KoKo Jun 2012 #37

Intriguing video, this was done 5 years ago, wonder what he thinks now YankmeCrankme Jun 2012 #41

Yes. I had great difficulty writing my post. JDPriestly Jun 2012 #50

Thank you for presenting these for our perusual... northoftheborder Jun 2012 #35

Kick...Just watched the 1% on Neflix Instant...and have ordered the DVD for the second one... KoKo Jun 2012 #36

I really, really wanted to buy one of Ivanka Trump's handbags... OKNancy Jun 2012 #42

I've had time to watch 1/2 of the first and bookmarked TBF Jun 2012 #45

Just finished watching the first, certainly worth the time. The coverage of Katrina is best... Scuba Jun 2012 #46

K&R! Poll_Blind Jun 2012 #47

K&R Raffi Ella Jun 2012 #54

Born Rich Dorian Gray Jun 2012 #55

This is why I make a distinction between the Rich/1% and the Plutocracy. Zalatix Jun 2012 #56

Watching The One Percent on Netflix right now- thanks for sharing! Luciferous Jun 2012 #57

I notice that Johnson has a 1% blog on Vanity Fair. JDPriestly Jun 2012 #58