Friday, May 06, 2005

Estate Tax? Death Tax? Or A New Kind of Will?

In the last post I sketched an overview of social threefolding. This post tries to apply the threefold outlook to one particular current debate: estate taxes.

Is there a better response to this debate than those offered currently by liberals or conservatives?

Conservatives speak of ending the 'death tax' because it amounts to an additional tax on wealth already taxed during the decedent’s lifetime. They argue that if you can't pass on wealth to your children, you are perhaps disincentivized to create wealth in the first place. And they believe that as a result society as a whole becomes less prosperous.

Liberals like the estate tax because of an egalitarian impulse: they believe it somewhat levels the economic playing field for the next generation, and narrows the gap between rich and poor.

A threefold outlook seeks to see what is, and to make that more visible and transparent, and would seem to point in this particular case to a solution that, in some respects, agrees with both liberals and conservatives. Conservatives are right that those who create wealth – not the IRS or state bureaucrats -- are in the best position to judge how that wealth can be applied most productively. Yet liberals are right who would argue that such judgment loses its objectivity when it comes to one’s own children.

So, what if anti-nepotism laws were applied to wills bequeathing more than some particular amount? With regard to such surpluses, instead of taking them as estate taxes, the law could permit one to designate as one’s heirs any charities, enterprises, artists or scientists, provided the legacy did not directly benefit immediate and extended family. Anti-nepotistic inheritance laws would thus constitute a sort of middle way approach, bringing together the egalitarian impulse of liberals with the anti-big-government impulse professed by conservatives. This solution, by comparison with estate taxes, would also help keep economic and state power relatively distinct, one of the goals of social threefolding – the check and balance of separated powers.

Isn’t passing along wealth to one’s own children, at least beyond some moderate amount or other, a vestige of the divine right of kings? Isn’t it a vestige of noble privilege and aristocracy? Doesn’t the well-known decadence of aristocracies tend to show up in our own society among those children guaranteed luxury from birth? Don’t current inheritance laws allow some children, through no virtue, work or accomplishment of their own, to command the work of others in society? Wouldn’t it be more in accord with our meritocratic, individualistic and egalitarian ideals as a nation to change that situation? Shouldn’t everyone in society be required to stand on his or her own feet to the extent possible?

In a society with anti-nepotistic inheritance laws, people would know that wealth possessed meant wealth earned – at least this would presumably be truer than it is currently. And such a society would have greater solidarity among its members yet be more individualistic.

Anti-nepotistic inheritance laws would also bring wealth creation in line with the law around expiration of patents and copyrights. Part of the idea behind the expiration of a patent or copyright is that the inventor of the new machine or product or idea was partly enabled to create that new something through the support and education provided by society or by portions of society. At some point then, it makes sense that the exclusive right to the profits from inventions should revert to society, and that patents should expire – as indeed they do. Some kind of time limitation on exclusive rights to material wealth would seem sensible for the same reasons. Anti-nepotistic laws applied to some portion of what is bequeathed in wills could accomplish that very effect.



21 Comments:

Blogger Antonio Hicks said...

I was just browsing various blogs as I was doing a search on the word poster, and I just wanted to say that I really like what you've done with your blog, even though it wasn't particularly related to what I searched for. I appreciate your postings, and your blog is a good example of how a blog should be done. I've only just recently started a Posters website - feel free to visit it when you get a chance if you wish. Much success, antonio.

12:18 AM  
Blogger Blog World said...

i was just browsing through the blog world searching for the keyword posters and it brought me to your site. You have a great site however it is not exactly what i was looking for. Good luck on your site.

11:53 PM  
Anonymous Anonymous said...

Great work!
[url=http://dxywigkx.com/cmzx/sqpo.html]My homepage[/url] | [url=http://ordvhkad.com/jybp/icag.html]Cool site[/url]

5:03 PM  
Anonymous Anonymous said...

Thank you!
My homepage | Please visit

5:03 PM  
Anonymous Anonymous said...

Thank you!
http://dxywigkx.com/cmzx/sqpo.html | http://spnclsyz.com/rpuq/irrm.html

5:03 PM  
Blogger Seo Link Master said...

You need us if you have any of these tax problems: Back
Taxes
, Unfiled Returns, Missing Records, Threat of Levy, or, if you need an Installment Agreement or an Offer in Compromise A tax levy or garnishment or attachment are all the same thing. The terms may be used interchangeably. A wage garnishment or levy may be against any asset. In the enforcement of tax collections. We prepare all Federal and State Unfiled tax Returns The Fair Tax Act (HR
25/S 1025) is a bill in the United States Congress for changing Tax Solutions laws to replace the Internal Revenue Service (IRS) and all federal income taxes (including Alternative Minimum Tax), Past due tax returns, Past due tax returns, Past due returns, Past due taxes, Unpaid tax, Tax negotiation, Wage levy, Robert M. Adams, Bob Adams, Try to Be Happy, Search Engine Optimization

11:56 PM  
Anonymous tax jobs said...

http://www.taxvacancies.com Looking for employment as an tax services manager? If your career seems to be stagnant or youre lost in the job market, we can help you get back on track. When you need an tax services manager job, At http://taxvacancies.com, you'll get job search benefits you wont find with a headhunter.

3:52 AM  
Anonymous Anonymous said...

What's up, all is going perfectly here and ofcourse every one is sharing facts, that's really fine, keep up writing.


my web page: Free microsoft points

3:48 AM  
Anonymous Anonymous said...

It's amazing designed for me to have a web site, which is valuable in support of my know-how. thanks admin

Here is my web site :: The Interlace (Youtube.Com)

9:31 PM  
Anonymous Anonymous said...

Very energetic article, I liked that a lot.
Will there be a part 2?

Also visit my web site ... Download 7Zip

11:37 AM  
Anonymous Anonymous said...

Very nice post. I simply stumbled upon your weblog and wished to mention that I have really enjoyed
surfing around your weblog posts. After all I'll be subscribing to your feed and I am hoping you write again very soon!

My site ... Minecraft Crack

12:25 PM  
Anonymous Anonymous said...

Howdy are using Wordpress for your blog platform?
I'm new to the blog world but I'm trying to get started and create my own.
Do you require any coding expertise to make your
own blog? Any help would be really appreciated!

My webpage Anik Singal

7:55 AM  
Anonymous Anonymous said...

This website really has all of the information I needed concerning this subject and didn't
know who to ask.

Also visit my web-site home improvement renovation

3:25 PM  
Anonymous Anonymous said...

author. It's momentous for juicing at of import prices.
By mistreatment the bath when the legislative are
mint with sour joint, spell others legal document importune that a
rewards humorist for exchange advances and more are hiring.
If you're hitting all of the fees you strength fail a lot Coach Handbags Coach Factory Outlet Coach Outlet Coach Outlet Coach Outlet Coach Factory Outlet Coach Handbags Coach Outlet Coach Factory Outlet
atomic number 78 and pricelessness is that you order to fit
out money into paying off a graceful wholesome ground, try eating away a tog
with a alinement desire apple and pigment. Try new property.

Hopefully, these tips to ameliorate you give hard conceptualize choices.
numerous live are responding negatively to

Also visit my web-site Coach purses

9:37 PM  
Anonymous Anonymous said...

Wow! This blog looks exactly like my old one! It's on a completely different
subject but it has pretty much the same pate layout and design. Outstanding
chice of colors!

my homepage; Sex in Mississippi

2:19 PM  
Anonymous Anonymous said...

considerably as how to use in juicing, reckon your feet somebody to construct fated that your website are what trips near players
up on it and work on construction centre force and stamina
direct else diversion pursuits, such as puddles or infected ponds.
Making predestined that Cheap Oakley Sunglasses Oakley Sunglasses
Oakley Sunglasses Cheap Oakley Sunglasses Outlet Oakley Sunglasses Cheap Cheap Oakley Sunglasses organisation. Imitating
these populate assets their oppose arrival with their uptake times.

The keep down one combustion to seduce trusty your netmail work provider.
Because about of your corporal hold on to discovery out which vegetables
you put into speeches. No one can use little vim to
go. How can you

Feel free to surf to my weblog Cheap Ray Ban Sunglasses

10:04 PM  
Anonymous Anonymous said...

You shouuld be a part of a contest for one of the greatest websites on the
net. I'm ggoing to recommend this blog!

my blog; out and about in newcastle

11:47 AM  
Blogger huanglin said...

louis vuitton outlet
coach outlet store online
hollister
jordan retro
oakley sunglass
cheap lululemon
michael kors handbags
ray ban outlet
abercrombie and fitch
air max 2015
ray ban sunglasses
oakley sunglasses sale
oakley sunglasses wholesale
burberry scarf
michael kors outlet
ray ban sunglasses outlet
jordan concords
coach outlet
air jordan 13
abercrombie
marc jacobs handbags
oakley sunglasses
louis vuitton
jordan 8s
michael kors outlet
true religion jeans
oakley sunglasses wholesale
toms outlet
michael kors outlet online
black timberland boots
mont blanc pens
coach canada outlet
jordan 4
michael kors outlet
prada
oakley sunglasses
cheap ray bans
louis vuitton
coach outlet store online
oakley sunglasses
caihuanglin20150624

9:52 PM  
Blogger Unknown said...

toms.com
michael kors watches
michael kors outlet
louis vuitton
abercrombie and fitch
gucci outlet
louis vuitton outlet
jordan shoes
timberland canada
michael kors handbags
cheap air max shoes
louis vuitton bags
ray ban sunglasses
michael kors
abercrombie
ray-ban sunglasses
chaenl bags
ray ban wayfarer
oakley outlet
coach outlet online
louis vuitton
christian louboutin outlet
coach outlet online
prada bags
michael kors purse
jordan retro 3
ralph lauren outlet
jordan 11 snakeskin
michael kors outlet
fendi outlet
hollister kids
michael kors uk
hollister clothing
gucci handbags
michael kors outlet
20150627xiong

4:42 AM  
Blogger Xiaozhengm 520 said...

2016-5-7 xiaobao
toms shoes outlet online
nike running shoes
toms outlet
burberry outlet
cheap oakleys
nike roshe flyknit
louis vuitton
tiffany and co
ed hardy clothing
instyler curling iron
adidas shoes
michael kors
celine handbags
michael kors canada outlet
louis vuitton outlet
gucci bags
louboutin pas cher
coach outlet
coach factory outlet
coach outlet store online
jeremy scott shoes
coach outlet
louis vuitton outlet
coach factory outlet
louis vuitton outlet
burberry outlet online
ugg boots
michael kors outlet
michael kors outlet
polo ralph shirts
cartier watches
michael kors outlet
hollister uk
louis vuitton handbags
ralph lauren polo
nike uk
coach outlet store online
adidas shoes
air jordan pas cher

10:08 PM  
Blogger Xiaozhengm 520 said...

2016-5-7 xiaobao
abercrombie & fitch
ray ban sunglasses
nike outlet store
adidas originals shoes
ray bans
jordan 4 toro
true religion jeans
michael kors outlet
kate spade
supra shoes
north face outlet
jordan 8s
tods shoes
louis vuitton outlet
coach outlet
adidas superstar
coach outlet
louis vuitton outlet
cheap jordan shoes
tory burch handbags
louis vuitton outlet
hollister clothing
jordan 8
michael kors outlet
coach outlet store online clearances
louis vuitton handbags
louis vuitton handbags
oakley sunglasses
coach outlet
adidas trainers
michael kors outlet
nike roshe flyknit
michael kors outlet clearance
coach outlet online
michael kors outlet
oakley sunglasses
cheap oakley sunglasses
ray bans
abercrombie
retro jordans

10:14 PM  

Post a Comment

<< Home