Barney Frank is a Socialist

U.S. House of Representatives member Barney Frank is a Socialist. I saw him on television say that we should increase the inheritance tax on big estates becasue people don't deserve to inherit large amounts of money just because they have rich parents. He, also, said that it isn't fair for them to do it.

Like all socialists he uses the word fair. What does fair mean? Who determines what is fair? I am sure according to Frank and his ilk, elected public officials determine what is fair and they, of course, do it based on what it takes to get elected at the moment. For example, progressive tax brackets go up and down according to what politicians beleive that the voters feel the fair amount is at the time of an election.

Like all socialists he misses the point of inheritance. The point of it is to keep the investments and businesses going.

If you do the opposite and tax away the inheritance, then the government gets so much money that quite often the busiensses fail. It is very common for children not to have enough cash to pay for the tax bill of their parents estate, so they have to borrow large amounts of money to pay the bill. By government forcing the large scale borrowing with the investments and businesses as collateral you weaken those investmens and businesses and make it easier for them to fail. Family businesses, especially, are often ruined by the large debt that was created to pay the estate tax bill of the parents.

The more businesses fail, the more socialist politicians can say that capitalism has failed and what our country needs is socialism.