News - Estate and Federal Taxes

The Estate Tax: A Recycling Program in Disguise

January 1, 2007 — bob
recycling opportunity

Bill Gates, Sr., father of the richest man on earth, argued in the Seattle Post Intelligencer that Washington's estate tax was an "opportunity recycling program." [...] If we abolish the state's inheritance tax we stop the opportunity recycling program. We allow the common wealth to stop flowing and concentrate it in the hands of a few. And worse, we slow the investments in opportunity that aim to provide every young person a chance, whether they were born in South Seattle or Mercer Island."

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