CNN's Fareed Zakaria: Americans should give half of inheritance to government

The Daily Caller ^ | 10/23/2011 | Alex Pappas

[martosko]

Time magazine columnist and CNN host Fareed Zakaria says Republican presidential candidate Herman Cain’s “9-9-9” tax reform plan is “sloppy and, in parts, bizarre.”

So he offered his own version of a tax reform plan in his weekly column in Time. In it, Zakaria argues that Americans should give the federal government half of what they inherit.

“I would enact a 50 percent inheritance tax, because nothing is more un-American than an inherited elite that perpetuates itself,” Zakaria wrote for the magazine.

[RedMDer]

[SunkenCiv]

Thanks martosko.

I would enact a 50 percent inheritance tax, because nothing is more un-American than an inherited elite that perpetuates itself

In that case, why not 100%? And while we're leveling income, everyone in the entertainment industry -- and that includes the so-called news media, even though they only entertain leftists and themselves -- should be stripped of all income and assets, and forced to "work" in their "profession", but rely on public housing and food assistance.

[ABQHispConservative]

I know. They become rabid capitalist and small-government advocates when this sort of stuff impacts them.

[RatRipper]

Anti-capitalists riding in limosines and sipping expensive wine do not understand what makes their lifestyle possible. If they make it possible for the government to destroy much of this nation’s capital using thievery methods as inheritance and estate taxes, they might belatedly come to understand how fundamentally wrong they are.

[kcvl]

CNN - US Al Jazeera

Zakaria was born in Mumbai (then Bombay), Maharashtra, India, to a Konkani Muslim family. His father, Rafiq Zakaria, was a politician associated with the Indian National Congress and an Islamic scholar. His mother, Fatima Zakaria, was for a time the editor of the Sunday Times of India.

[dennisw]

Fareed the Muslim just got off the banana boat and he’s going to tell Americans they should do something so crazy and radical? ESAD Muzzie and take your false prophet with you.

wikipedia
Zakaria was born in Mumbai (then Bombay), Maharashtra, India, to a Konkani Muslim family.[3] His father, Rafiq Zakaria, was a politician associated with the Indian National Congress and an Islamic scholar. His mother, Fatima Zakaria, was for a time the editor of the Sunday Times of India.

[dennisw]

dittos!!
file this one under:
Muzzies say the craziest things about countries they weren’t even born in. He wipes his stinky flea bitten arse w our Constitution

[dennisw]

Word!

[dennisw]

Amen!
Revocable trusts are where it is at! My mother died years ago but my father>>>> He signed a living (revocable trust) trust a few months before he died. This way the lawyers did not get a piece of it via probate. His estate was too small for the Feds to tax. We just did it to cut out the greedy lawyers. I know a great lawyer ($300-$400) who does this in Florida. Anyone can freepmail me on this

This is how you avoid probate and probate lawyers

[magellan]

Fareed is willfully ignorant, and shows a stunning lack of wisdom.

The vast majority of estates, willed property, and inheritances are not from the moneyed elite to the moneyed elite,

Most of the super wealthy did not get their money through inheritance.

The fear of the rise of a generational moneyed elite is simply an irrational fear. A phobia, but a phobia not based in any serious risk. Promoting this phobia is fomenting trouble.

[jwalsh07]

Over my dead body with my cold hands clasping you know what!

[magellan]

The inheritance tax is a cancer on family farms and small business, and a milnor scratch on plutocrats.

[T Ruth]

I would support a repeal of the income tax to be replaced by a high-rate estate or inheritance tax. Under such a scheme, productive persons could keep their earnings; productive behavior would be rewarded; and we could avoid having more Ted Kennedys, who, if he had had to rely on his own merits would have been a nothing, but in fact was Senator-for-life because he inherited millions from daddy.

[boop]

I thought it was already 55%. That’s why family farms were IIRC “exempted” because people would have to sell them off, just to pay inheritance taxes. Wasn’t the family of the Dolphins owner forced to sell the team, just to pay the taxes? I’m sure it was his wish to leave the team to his heirs. Not the government.

[TASMANIANRED]

Limosine liberals first.

Time to lead by example.

[Atlas Sneezed]

nothing is more un-American than an inherited elite that perpetuates itself

---

Maybe it should be retroactive, so the Kennedys and Rockefellers can pay their back taxes for enough generations to impoverish them.

[jospehm20]

I think Fareed Zakaria should go back to whatever third world hell hole spawned him and shut the hell up about what Americans should do.

[denydenydeny]

This is the guy who is the media’s number one China cheerleader, the author of Obama’s bible The Post-American World. Why isn’t he calling for 50% China or India inheritance taxes?

[Titus-Maximus]

Your statement further begs the question - show us a society that has achieved more that America through the confiscating of people’s property. Cuba failed, the Soviets failed, North Korean failed, Robert Mugabe failed, and Mao failed until they flushed his policies. Taking people’s wealth through the rule of the mob never created anything of value.

Government does not create wealth.