You probably know that Theodore Roosevelt, our 26th president, was an all-around badass. This is a guy who got shot in the chest while delivering a speech… and finished the speech. He was also a pretty snazzy dresser.
But you might not know that he was also a staunch pro-tax advocate. Here’s what Teddy had to say about the estate tax.
A heavy progressive tax upon a very large fortune is in no way such a tax upon thrift or industry as a like tax would be on a small fortune. No advantage comes either to the country as a whole or to the individuals inheriting the money by permitting the transmission in their entirety of the enormous fortunes which would be affected by such a tax; and as an incident to its function of revenue raising, such a tax would help to preserve a measurable equality of opportunity for the people of the generations growing to manhood.
Taxes preserve equality of opportunity. Amen, Mr. President!