Bill Gates recently made the comment that nobody needs to be as rich as he is… I’m sure that it’s real easy to criticize and make such comments when you don’t have a clue what being poor or in the middle class is like.
He plans on giving the bulk of his fortune to his foundation, which fights poverty and diseases in third world countries all over the planet. Of course that means that the kids are only going to get an amount that falls under the inheritance tax limits… poor souls are going to have to figure out how to live with a measly 9 or 10 million dollars.
Gates also believes that he isn’t paying enough in taxes, but apparently still uses all the tax laws to his benefit to pay as little as possible. Someone should ask him the more important question… does he believe that the Federal Government is better equipped to spend his money than he is?
That’s really the bottom line when it comes to taxing the rich to death. The government feels they can spend that money in a manner that is far better than anything those earning that money can do. We should all be asking ourselves, when was the last time the Federal Government ever ran an efficient or cost effective program? The answer is never.