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| True. Back in the early 90s I was visiting with people at the Foundation/Cycles conference. Martin Armstrong was the center of attention. The topic was taxes, and, of course, no one liked them. I said that the country could eliminate income and probably property taxes, and everyone enthusiastically agreed. Then I said what needed to be done was to institute a 100% estate tax. You should have seen the look of horror on everyone's face.
This scenario is interesting to contemplate, isn't it? No one born with a silver spoon in their mouth. Keep all the money you earn while you live, but none is passed to your kids. Think about the opportunity for young people. Think about the incentive to build something. Now, I know that this would have problems, but the idea is interesting.
We only talk about equal opportunity in this country.
BTW - I enjoyed your posts in the cattle thread below. People just like simple villains, however, and packers are such an easy target. | |
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Bill Gross on current investment climate.
