To the Editor:
Complaining about the possibility that Rhode Island’s estate tax might be eliminated, CPA Rich Streitfeld, in his Projo June 15 letter, asks who will “pick up the annual tab, of at least $30 million?” Continuing, “Clients rarely weigh R.I. death taxes,” he claims that repealing the tax on inheritance would only “benefit 500 families at the most” and those “with a $10 million estate would save $865,000 in state taxes” and “having seen their federal estate and income taxes slashed.”
Rich (unfortunate sobriquet for one having aversion to the condition) complains “the broad populace would subsidize the super-wealthy with the usual array of fee hikes, tax increases and service cuts. Is this necessary?” A good CPA could solve the problem with spending-cuts and making sure user fees got properly assigned.
Entitlement thinking by socialists is insidious. The Constitution does not allow redistribution of wealth by confiscation, nor should it.
C. Christopher Sirr