![]() ![]() ![]() ![]() After working hard, paying taxes, and building a business over a lifetime, an individual faces the prospect of steep estate taxes-a government hostile takeover, if you will. These takeovers are an integral, healthy aspect of capitalism’s ongoing creative destruction.īut there is another kind of hostile takeover that is distinctly anti-free enterprise in nature and worthy of harsh criticism: the federal estate tax, along with the gift and generation-skipping taxes. In reality, of course, hostile takeovers are a source of dynamism in a free enterprise system-often removing moribund, inefficient management, and finding ways to add value and increase production. Worries about corporate instability, excessive debt, and job losses mount when an individual or firm attempts to seize the reins of a corporation against the wishes of current management. In the history of modern-day capitalism, there have been occasional misplaced concerns regarding corporate raids or hostile takeovers.
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