In 2010 America, schools, students, and teachers share the pain. The heirs to our mega rich, meanwhile, don’t have to share anything. For the first time in nearly a century, we have no federal estate tax.
<p>Investing recklessness at Harvard is making ‘the best and the brightest’ look awfully silly — almost as silly as a nation that lets staggering quantities of wealth continue to concentrate.</p>
The debate over the White House proposal to limit the tax deductions the rich can take on charitable donations has so far revolved around questions over whether the wealthy would give less if they couldn’t deduct as much as they do now. The better question: Just how much are the rich now really giving?