Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes.Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes By William H. Gates Sr. and Chuck Collins Chuck Collins (b. 1959) is an author and a senior scholar at the Institute for Policy Studies in Washington, DC, where he directs the Program on Inequality and the Common Good. Beacon Press This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. . 166pages. $15. There is apparently no limit to how much the rich will spend to convince the rest of us that they don't have enough money. Wealth and Our Commonwealth is the story of the campaign to repeal the estate tax--or the "death tax," as its opponents call it. Framed as a campaign to preserve small family businesses, the effort is funded by some pretty big family businesses, like the $875 million Gallo wineries and the $27 billion Mars candy company. This book defends the legitimacy of the estate tax. Written by William Gates
William Gates (b. ca. Sr. (the father of Bill Gates (person) Bill Gates - William Henry Gates III, Chief Executive Officer of Microsoft, which he co-founded in 1975 with Paul Allen. In 1994 Gates is a billionaire, worth $9.35b and Microsoft is worth about $27b. ) and Chuck Collins (an heir to Oscar Mayer Oscar Mayer is an American meat and cold cut production company, now owned by Kraft Foods, known for its hot dogs, bologna, bacon and Lunchables products. German immigrant Oscar Ferdinand Mayer ), the book shows that a pared-down tax on estates worth more than $3.5 million would affect only 6,000 families a year. The book's most refreshing argument is that the tax is not only necessary but good. By checking the growth of inherited economic power, "the estate tax helps make America great," the authors say. |
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