Pacific Views

May I assume that you would just as soon that J&T Kerry not be billionaires? And then, what about the Kennedys.

Personally, I don't see any reason anyone should inherit more that $10,000,000 unless it is tied up in a business or farm that the heirs run.

It isn't having money that I object to, it's not paying tax on it like everybody else.

The income tax was first introduced in this country on the premise that it would tax wealth, not work. Wealth was considered to have something of a taint to it, or at the least to allow people too much free time, and work was considered virtuous. Now we've come around to the opposite point, where wealth is considered virtuous and work is despised.

Along with a worship of money and a hatred of the people who wash the dishes and sweep the streets, has come the promotion of a philosophy of taxes holding that unearned money is more virtuous and beneficial to the economy than other types. So now, some people can make loads of money through passive investment, and avoid more than the typical share of tax (and if they're really wealthy and have smart attorneys, avoid them completely.) Then this barely taxed money can get passed tax-free to some layabout that never did anything for it at all.

My irritation is based on the premise that it's unfair for 98% of us to pay taxes on the money we work for, and 2% to pay zip on money that came to them while they were putting in a hard day on the golf course. Further, it's idiotic from an economic point of view. Most of us have to spend our money, stimulating the economy. These people have it to spare, so it sits somewhere waiting to be loaned at interest to expansion-minded retailers whose customers can't afford to shop like they used to.