I actually support extending the inheritance tax breaks. The minority of inheritances in the US directly affect the wealthy, whereas the majority affect the middle class and, especially, farming families passing along the family land and business. They're also going to affect me directly before too much longer, and I really don't want the government taking a huge chunk of what will probably have to support me for the rest of my life.
However, I'm all for increased income taxes above a certain significantly high income bracket. Say, somewhere in the range of $250-300K or more? Take it from people who can afford to pay it.
In his MARS trilogy, Kim Stanley Robinson's colonists on Mars set a limit on how MUCH a child can inherit from wealthy parents, thus eliminating a ruling class of rich families. I like that idea; the offspring of the wealthy should have the same chances to fail as the rest of us. I have no problem with inheriting the family business or especially the farm --those are the people who most likely know HOW to run things, having grown up around it (not always the case though; ask a former employee of ARROW Trucking).
If -WE- had $250K rolling in every year, I would consider it my duty to pay more taxes. I guess I'm just more patriotic that the rich crybabies.
![[identity profile]](https://www.dreamwidth.org/img/silk/identity/openid.png){kind=small}
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
sforzinda
no subject
Date: 2010-12-09 05:06 am (UTC)However, I'm all for increased income taxes above a certain significantly high income bracket. Say, somewhere in the range of $250-300K or more? Take it from people who can afford to pay it.
no subject
Date: 2010-12-10 02:36 am (UTC)If -WE- had $250K rolling in every year, I would consider it my duty to pay more taxes. I guess I'm just more patriotic that the rich crybabies.