Maggie's Farm

Readers know that I am opposed to death taxes - estate taxes. The wealthy find ways around them (how long has it been since a Kennedy or a Rockefeller held a real job as opposed to an optional job?), but merchants, the middle class, and farmers get screwed by them.

My friend in southern CT recently told me about a third-generation (the grandpa was an Italian immigrant) family-owned flower shop in their town which had to close up shop last month when Mom died. Why? They had to sell their small building to pay the estate taxes. Like a family farm, that is generations of dedication, good will, hard work, and a long-established part of a community down the drain.

Furthermore, I like the idea of middle-class families being able to build wealth over generations - and most people who work hard like that too. People like to feel that they are building something for the family's future, and for their family's independence from the kindness of strangers - and the government.

I do advise everyone, even if not wealthy, to do the best that they can to avoid the crushing effects of death taxes by getting the best estate-planning advice you can afford.

Brit Ted Dalrymple takes on the Fabians on the topic, in Let Them Inherit Debt. One quote:

There are many unfairnesses in life that we must learn to put up with, if we are to have any chance of happiness or even of tolerable contentment. For example, I should like to be taller, better-looking and more intelligent and gifted than I am. Every time I meet someone better-looking than I, taller than I, or more talented than I, which I do very regularly, I experience a brief spark of envy. What did they do to be as they are, my superiors? Why did providence, or chance, endow them with characteristics so much more attractive than my own? Needless to say, I never stop to think that, just possibly, some people might ask the same of me when they meet me.

    But the differential endowments of nature are unfair, not unjust, because (at least as yet) no human intervention can prevent them. The inheritance of wealth is not like this: it is a human arrangement that could be abrogated if not easily, for political reasons, at least with some effort. And if injustice is unfairness brought about by human means, then inheritance of wealth is unjust. Ergo, inheritance of wealth ought to be forbidden because it is unjust, and we must always seek justice.

    The question, then, is whether we should always seek justice to the exclusion of other desiderata. Is it true that justice always and everywhere trumps other considerations? I think the answer is no.