Death and taxes? How about death, then taxes? As we debate taxing, spending, and the proper role of government, one author has proposed the politically impossible: charging people for Medicare after they’ve died. Although it’ll never happen, his suggestion comes close to my (admittedly idiosyncratic) views on taxes. I would support an estate tax of 100 percent if it resulted in the elimination of all other taxes. Americans would pay no income taxes, no sales taxes, no payroll taxes, no property taxes, and no investment taxes during their lifetimes. As a tradeoff, we wouldn’t be able to pass money along to our children. Seniors would have an incentive to put money into the economy, and we could mitigate (although not eliminate) the impact of inherited wealth. Why not?
Pardon My Planet (5/26/11)