Conscript Inheritances, Suggests Bishop Brent

The first federal estate tax was created in 1916, with a top rate of 10 percent levied on transfers of assets to beneficiaries after one’s death. A year later in 1917, at the outset of American involvement in World War I, this essay proposed that the rate be essentially raised to 100 percent, thus ending the automatic transfer of land or inheritances from rich people to their children.

Needless to say, it didn’t pass. Through fits and starts, the rate did rise over time, currently standing at a top rate of 40 percent. But a century later in 2017, the push is in the exact opposite direction, with congressional Republicans and President Trump trying to eliminate the federal estate tax once and for all — essentially a 0 percent rate.

Conscript Inheritances, Suggests Bishop Brent: This Would Be the Reverse of Socialism, He Says, in Discussing Sacrifices That Must Be Made to Save Liberty in the World

From Sunday, May 13, 1917

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: