TAXATION: Last Thoughts

In 1934 the New Deal upped the scale of estate taxes from a top rate of 45% to a top rate of 60%. Year later it upped them again to their present top of 70%.

These increases have given a sombre cast to the dying thoughts of many a rich man.

One rich woman. Sarah P. Duke, widow of power-tobacco Tycoon Benjamin Duke, evidently was not greatly worried, for her will, probated last week, showed that she still felt able to leave a fat slice of her fortune to Education (see p. 54)....

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