DIYbanter - View Single Post - OT WSJ -- Does the estate tax hurt farmers and family businesses?

Hawke[_3_]

On 12/24/2010 4:25 AM, wrote:
On Dec 24, 1:08 am, wrote:

History has already shown that is a dumb idea. If you knew what happens
when the rich can do what they please with their estates you would know
better. But you clearly don't know what the danger of unlimited passing
of wealth from one generation to the next brings with it. Learn some
history. Your opinion won't be as ignorant if you do.

Hawke

That is the Democratic line. Have you ever been in a public library?

From Wiki

A Carnegie library is a library built with money donated by Scottish-
American businessman and philanthropist Andrew Carnegie. More than
2,500 Carnegie libraries were built, including some belonging to
public and university library systems.

Of the 2,509 such libraries funded between 1883 and 1929, 1,689 were
built in the United States, 660 in Britain and Ireland, 125 in Canada,
and others in Australia, New Zealand, Serbia, the Caribbean, and Fiji.
[citation needed] Very few towns that requested a grant and agreed to
his terms were refused. When the last grant was made in 1919, there
were 3,500 libraries in the United States, nearly half of them built
with construction grants paid by Carnegie.[citation needed]

Dan

Of course I know about Carnegie, he was one of the world's greatest
philanthropists. But do you know about the history of the wealthy in
England? Do you know what primogeniture and entail are? Suffice it to
say that allowing the passing of great wealth from one generation to the
next creates dynasties. It also gives great power to the families of
great wealth. There are all kinds of negative effects that happen when
you allow the wealthy to pass on great estates to children who are
simply lucky by birth. We don't need those kinds of problems here. We
already have plenty. Try looking into the subject and you will find why
America never wanted dynasties or aristocracies that are created when
you pass on great estates. It's a bad thing. I'm just surprised that so
many people don't know the dangers associated with it.

Hawke