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HUMANITY DOOMSDAY CLOCK - Moves forward to 2125 due to election of US President trump.

Estimate of the time that Humanity will go extinct or civilization will collapse. The HUMANITY DOOMSDAY CLOCK moves forward to 2125 due to US President trump's abandonment of climate change goals. Clock moved to 90 seconds to doom at December 2023. Apologies to Bulletin of the Atomic Scientists for using the name.

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Saturday, December 18, 2010

Rough Ridin Estate Tax

Hey Barry:

Sometime the REPS forget where they came from.

Here's what Theodore Roosevelt had to say about big fortunes and the need for an estate tax, as quoted by Tim Rutten in the LA Times: 'Like many thoughtful Americans of his era, he believed the disproportionate accumulation of wealth in the hands of a few would make a mockery of our meritocracy and, ultimately, of our democracy. In 1910, he summed up those feelings.

"We grudge no man a fortune in civil life if it is honorably obtained and well used," Roosevelt said. "It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community.... The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and … a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate." '

Your pal,

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