Noam Chomsky, greedy capitalist

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And a hypocrite, too. Peter Sweitzer of Canada's National Post points to Chomsky's use of tax—avoiding trsusts, investments, and money—making schemes:

The iconic MIT linguist and left—wing activist frequently has lashed out against the "massive use of tax havens to shift the burden to the general population and away from the rich," and criticized the concentration of wealth in "trusts" by the wealthiest 1%. He says the U.S. tax code is rigged with "complicated devices for ensuring that the poor —— like 80% of the population —— pay off the rich."

But trusts can't be all bad. After all, Chomsky, with a net worth north of US$2—million, decided to create one for himself. A few years back he went to Boston's venerable white—shoe law firm, Palmer and Dodge, and, with the help of a tax attorney specializing in "income—tax planning," set up an irrevocable trust to protect his assets from Uncle Sam. [....]

Chomsky did say that his tax shelter is OK because he and his family are "trying to help suffering people."

In my experience, liberals are often greedy and immoral in exactly the terms they denounce capitalism. It seems to me they project their own faults onto "the system" and then salve their consciences by adopting political positions to in theory compensate for their own faults.

I have nothing against capitalism, getting rich, or minimizing taxes. But I can't stand people who criticize others for their own faults.

Hat tip: Jonah Cohen

Thomas Lifson  3 22 06

And a hypocrite, too. Peter Sweitzer of Canada's National Post points to Chomsky's use of tax—avoiding trsusts, investments, and money—making schemes:

The iconic MIT linguist and left—wing activist frequently has lashed out against the "massive use of tax havens to shift the burden to the general population and away from the rich," and criticized the concentration of wealth in "trusts" by the wealthiest 1%. He says the U.S. tax code is rigged with "complicated devices for ensuring that the poor —— like 80% of the population —— pay off the rich."

But trusts can't be all bad. After all, Chomsky, with a net worth north of US$2—million, decided to create one for himself. A few years back he went to Boston's venerable white—shoe law firm, Palmer and Dodge, and, with the help of a tax attorney specializing in "income—tax planning," set up an irrevocable trust to protect his assets from Uncle Sam. [....]

Chomsky did say that his tax shelter is OK because he and his family are "trying to help suffering people."

In my experience, liberals are often greedy and immoral in exactly the terms they denounce capitalism. It seems to me they project their own faults onto "the system" and then salve their consciences by adopting political positions to in theory compensate for their own faults.

I have nothing against capitalism, getting rich, or minimizing taxes. But I can't stand people who criticize others for their own faults.

Hat tip: Jonah Cohen

Thomas Lifson  3 22 06