Thursday, March 10, 2011

Daddy's money too

Can anyone give me a reason why Abigail Johnson, gifted with every possible opportunity and leg up, should not pay an inheritance tax when she eventually inherits her father's multi-billion dollar fortune?  She's already richer than he is, $11.3 billion to $7.1 billion.

Other than middle class conservatives who defend this permanent aristocracy of money, is there anything more ridiculous than the structure of investing, which permits people like the Johnsons to cream off billions, when they can't even consistently beat index funds? 

If you're not an investment professional, don't try to compete with these lawful thieves.  But also don't let them take a cut of your money.  Put it in a no-load index fund and step back.  Or be a pigeon, your choice.


Anonymous said...

Its her money moron. She earned it. So did he. If he wants to pass it on to her or to the mole people it's his. Don't go double-taxing his productivty. AND GET OFF WELFARE!!!

lovable liberal said...

Earned? Here's a quote for you:

"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both."

But then wingnuts want a strongman. Augusto Pinochet, now there was a guy who knew how to murder dissenters who opposed the kleptocracy.