Is it Un-American to Pass Your Full Inheritance on to Your Family?

Fareed Zakaria needs to go back to whatever hell-hole he escaped from …..

Campaign years always bring tax issues to the forefront of the news. Obama and fellow Democrats want to increase taxes in a number of areas and Republican Herman Cain is advocating his 9-9-9 flat tax plan.
One tax that has often been a subject of political haggling has been the estate tax or as some call it the death tax.

Some politicians, mostly Republicans, have advocated that the estate tax be repealed. A group known as American Family Business Institute has been pushing for the elimination of the estate tax. Dick Patten of AFBI uses a study conducted by Steve Entin that indicates that a decrease of the estate tax could result in an increase of federal revenues.

However, political analyst and columnist for Time magazine, Fareed Zakaria is advocating that the estate tax be increased to 50%. He claims that ‘nothing is more un-American than an inherited elite that perpetuates itself.’

Un-American to pass your entire estate on to your family…..

Let’s see, George Washington didn’t leave half of his vast Virginia holdings to the government. Neither did Thomas Jefferson, Benjamin Franklin or any of the other Founding Fathers. If it was un-American to want to pass everything on to your loved ones, I’m sure that our Founders would have left half to the government as Zakaria claims is the American way.

America was established and built upon the principles of the free market and capitalism. If a person works hard to build a fortune or empire they should have the right to pass the rewards of their efforts on to their families or to whomever they choose.