Friday, October 20, 2006

Comment from John Tamney to My Daughter

John Tamney has just written a response to the piece my daughter wrote on an earlier piece he did. I thought it worth putting up on the my main page. Thanks, John.

As the writer of the estate tax piece, I figured I should comment. I think we're mostly in agreement here. Problems such as illness naturally mean more than my ability to watch videos online.

Still, the argument applies. Another Forbes 400 member (Patrick Soon-Shiong) has developed a drug for his company (American Pharmaceutical Partners) that will fight cancer in a new, and innovative way. Essentially Abraxane will be inserted into cancerous cells, but will carry with it a "Trojan Horse" of sorts. The cancerous cells will move to the drug, but within it is a cancer killer that will kill the cells.

Importantly, it is access to capital that makes these life improvements available to us. To advocate for the estate tax is to ask for something that will shrink the amount of capital available to the Howard Sterns and YouTube founders of the world, but also the Patrick Soon-Shiongs. Successful people are that way because they give people what they want. This is something to embrace.

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