Merry Christmas to All! If it be more blessed to give than to receive, what better time than Christmas Day to discuss the Estate Tax.
You might say to yourself: How dry, how dull – leave me to my eggnog and on some other day I will look into this subject. But there is no better day than Christmas Day to think about what any citizen of a democracy owes to his or her country, and this is especially true about the wealthier, and especially the wealthiest, among us. Image: Mark Fiore
My first Christmas gift to you is my most favorite of all quotes, from that most astute observer of democracy, Alexis de Tocqueville. He was a man who was intimately familiar with the social sclerosis that resulted from aristocracy, and he had a chance to compare it in the 1830s to the newly-invented American democracy. He said the following in Book I of his Democracy in America. Continue reading