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On Death Tax, the U.S. Is Worse than Greece, Worse than France, and Even Worse than Venezuela

Kevin4513 Wrote: Jul 30, 2012 2:03 PM
There is no desire to fix the tax system! Lawyers protect their own, and that is the reason that lawyer law-makers will never abandon the ridiculous tax system we currently have. Talk about special interests....

Considering that every economic theory agrees that living standards and worker compensation are closely correlated with the amount of capital in an economy (this picture is a compelling illustration of the relationship), one would think that politicians – particularly those who say they want to improve wages – would be very anxious not to create tax penalties on saving and investment.

Yet the United States imposes very harsh tax burdens on capital formation, largely thanks to multiple layers of tax on income that is saved and invested.

But we compound the damage with very high tax rates, including the...

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