Barbara Boxer: “I was discussing with another Senator a conversation he had with a very wealthy man who had made hundreds of millions…”

“I was discussing with another Senator a conversation he had with a very wealthy man who had made hundreds of millions, perhaps billions, of dollars, in the course of his lifetime in this country. Maybe this person is unusually kind and good hearted. This person was saying to him: This great country made it possible for me to have this kind of accumulation of wealth, which is far beyond what any of my heirs need to have. He can take care of his heirs for generations to come. He said: But I have to admit that I earned all this money because a lot of folks worked for me, and those people got up every day. They did not become millionaires, but they did fine, and I want to make sure that, yes, I can help their kids. That is what happens with an estate tax. How do we spend it? We defend the country for those kids. We help with education. We help with health research. We may find the cure for Alzheimer's for one of Bill Gates' future generations because of the funds we are able to put into health research.”