Doing the Wrong Thing

A pretty strong rebuke of all things Greenspan 2001. It seems that Alan wasn't quite ready for the consequences of his testimony. Even when told (at the time) by the members of the committee that what he had said would unleash a feeding frenzy rarely seen, he refused to withdraw any measure of his comments. Apparently in this session he also refused. Not only has Robert Rubin, part of Time Magazine's "Committee to Save the World," and former Treasury Secretary, come out vehemently against the tax cut, now some of America's wealthiest are as well. Buffet's comments are the most compelling in my mind, "[w]ithout the estate tax, you in effect will have an aristocracy of wealth, which means you pass down the ability to command the resources of the nation based on heredity rather than merit."(emphasis added) One can only hope that the democrats in congress mount a vehement offense and make this a hanging issue for the year.
- posted by levinson @ 2/14/2001 10:47:00 AM