The Capitalist-Communist Manifesto: No Tax But A Limit On Inheritance

We hold these truths to be self-evident that, though equal with unalienable rights to life, liberty, and the pursuit of happiness, we are different as individuals and call for a government of the people, for the people, by the people, dedicated, on the one hand, to the realization of individuality through competition that rewards innovation and diligence but, on the other, to compassion for those falling behind to be provided with a safety net under the guiding principle that we are all one, the human family, rich or poor.

NO TAX BUT A LIMIT ON INHERITANCE

Striking a balance between the two contraries, universal desire to leave something to one’s offspring and imperative for a level playing field, a person may bequeath tax free to each of his or her heirs up to whatever is deemed a statistical optimum for a median lifestyle, say $1,000,000 in 2019 values, the balance passing to the US treasury, the conveyor’s name and amount recorded, published, and memorialized in a manner agreeable to the conveyor, such as naming after him or her a conspicuous public monument, highway, bridge, building, park, beach, etc., if appraisal is commensurate to the value of the conveyance.

Without such legislation many successful people have willed their fortunes to churches, universities, foundations, and other causes. Ilhan Yoo, a Korean American, went back to Korea, founded a pharmaceutical fortune, and left its entirety, billions in today’s values, to South Korea, leaving nothing for his children, not even a house to live in, because, he said, they were well equipped to fend for themselves thanks to their elite upbringing and education.  

The trillions of dollars reverting to the American public as a result will more than finance food, housing, and medical relief to the poor, regardless of age.

The title of this manifesto may be inverted to Communist-Capitalist, or replaced by Conservative-Progressive, Conservative-Socialist, Conservative-Liberal, Competitive-Compassionate, Free Market-Regulated, Right-Left, etc., or their inversions, so long as they highlight the purpose, reconciliation of differences and animosities, extremes, that now threaten to wreck the Union.

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