The Great Inheritors: How Three Families Shielded Their Fortunes From Taxes for Generations
"In the early 1900s some of the wealthiest Americans claimed their fortunes would never last through the generations. A century of tax avoidance later, the dynasties are going strong."
"Roosevelt, himself an heir, earlier had warned that “economic royalists” had “carved dynasties” off the backs of America’s working men and women."
Full Article: [propublica.org]
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A generation earlier, another Roosevelt, who also came from privilege, but as a Republican, decried the wealth gap of the robber barons. Where do today’s Republicans stand (he asks, rhetorically)?
“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.”
— Theodore Roosevelt
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Dec 20, 2021
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