Tuesday, October 16, 2007

George Will loses it!

In his column in today's Washington Post, "The Unforgotten Man", George Will states:

"Politics often operates on the Humpty Dumpty Rule (in 'Through the Looking Glass,' he says, 'When I use a word, it means just what I choose it to mean -- neither more nor less'). But the people currently preening about their compassion should have some for the English language.

Clinton's idea for helping Americans save for retirement is this: .... . She proposes to pay for this by taxing people who will be stoical about this -- dead people -- by freezing the estate tax exemption at its 2009 level. "

I posted the following comment to his column:

"Come on George. You know better! The Estate Tax is not a tax on dead people. It is a tax on their estate. A very different entity. It was instituted 100 years ago to prevent the concentration of wealth in a few people's hands. A legitimate use of the tax code. You should include yourself in the list of people using the 'Humpty Dumpty Rule.' Shame on you."

It has always been one purpose of the tax code to redistribute wealth. One major complaint about the Estate Tax was that, in order to pay it, the heirs often had to give up the "family farm". This problem can be handled by increasing exemptions, or whatever. In today's day and age, a bigger problem seems to be that no one wants to inherit the "family farm". George W. Bush doesn't mind using the tax code to redistribute wealth, except in the wrong direction.

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