Dem
51
GOP
49
Inheritance taxes are an issue of some interest in American politics; Republicans hate them, and Democrats think they are an important tool for making certain that particular families don't control disproportionate wealth for generations or centuries.
Not surprisingly, this particular political football is also tossed around in many other countries, particularly the nations of Europe (although there, it is probably an association football football, as opposed to a gridiron football football). For example, (mostly) right-wing elements in Austria managed to abolish that nation's inheritance tax entirely in 2008. That is an unusual situation on a continent known widely for its socialism and friendliness to taxation.
It also does not sit right with one particular Austrian, namely Marlene Engelhorn. She is heir to a fortune of some very large size, and finds it problematic that the government doesn't want any of it in tax. So, she is going to, in effect, tax herself. Engelhorn has set aside 25 million Euros, and has created what she calls the Good Council for Redistribution. She will select 50 Austrians at random (and 15 alternates), and it will be up to them to decide how to redistribute the money. "If politicians don't do their job and redistribute, then I have to redistribute my wealth myself," she said in a statement.
Of course, there is also another approach to this problem. To illustrate, we give you Lois Kirschenbaum, who was brought to our attention by reader L.R.H. in Oakland, CA. Kirschenbaum was a well-known fan of the New York arts scene, particularly the operatic portion of that, and more particularly the Metropolitan Opera. She was not a person of great means—she worked as a switchboard operator, and lived in a rent-controlled apartment—and so she took advantage of cheap or free last-minute tickets for the Met's standing-room-only section.
Kirschenbaum died a couple of years ago, at the age of 88, and was appropriately commemorated by the Met and various other organizations where she'd been a fixture for decades. Thereafter, her will was probated and... it turns out her means were not so meager as it seemed. By living frugally and investing wisely, she'd built up a nest egg of $1.7 million. She had no family to pass it to, and so she left generous bequests to several arts organizations and to several Jewish groups.
So, a tip of the hat to these two ladies for their generosity of spirit. And have a good weekend, all! (Z)