Friday, December 9, 2011

One is a ship of fools; the other is a private yacht

Imagine a balance scale that measures wealth. On the left side you put the poorest 30% of Americans, some 90 million people. On the right side you put the Walton heirs... all six of them.

And the scales balance.

That's right. Six people own as much wealth as 90 million Americans. That's 6 to 90,000,000. And they earned it the old-fashioned way: by inheriting it.

If you still think an inheritance tax on estates over a million dollars is theft, if you still think rich people are job creators, if you still think that the money trickles down from the top, if you still think a perfectly fair tax rate as enjoyed by this country for over 50 years of unprecedented growth would hobble growth, then you probably think Newt Gingrinch is a man of integrity.

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