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July 13, 2009

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malachy walsh

Absolutely.

Scott Walters

Isaac -- isn't this the cap for Social Security taxes, not income taxes? That would certainly help Soc Sec's solvency.

Here's a really radical idea: cap the amount that anyone can inherit at, say, $500,000. Everything else goes to the government. Why should someone benefit from the work of their parents? It's like joining the Monopoly game having inherited hotels on all the major streets, and then insisting that it is a fair game. Create a level playing field, and perhaps we might move closer to a meritocracy -- and avoid having to put up with the likes of Paris Hilton.

What would also happen is that very rich people would, as they were getting ready to die, spend all kinds of money -- thus boosting the economy.

Alternately, go back to the Roosevelt income tax code of the Depression era: the top 1% of the earners have a tax rate of 94%. Yes, you read that right: 94% is what it was. And today, the rich bitch about 31%. Pathetic.

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