[snip] Not to mention the work incentive for the heirs. From Fareed Zakaria, at msnbc.com: “If Congress did not make permanent just one of its tax cuts, the repeal of estate taxes, it would generate $290 billion over the next decade. That itself pays for most of Katrina and Iraq.”

[snip] “Virtually all–95 percent–of [Chicago Public Schools] graduates who entered City Colleges last fall failed to place into college-level math courses,” reports Maureen Kelleher in Catalyst Chicago. “Three-fourths failed to place into college-level English and had to take remedial reading and writing classes. . . . Once enrolled in remedial courses, about a third of City Colleges students fail the courses and must retake the class.”

[snip] Do you believe in magic? Trader and essayist Nassim Nicholas Taleb, author of Fooled by Randomness, depicts a present-day dupe (self-evidently male?) at www.edge.org: “He disbelieves the bishop (on grounds of scientific method), but replaces him with the security analyst. . . . He does not realize that the manager of his mutual fund does not fare better than chance–actually a bit worse, after the (generous) fees. Nor does he realize that markets are far more random and far riskier than he is being made to believe by the high priests of the brokerage industry.”