Warren Buffet has it all wrong on the estate tax.

Consumption by worthless heirs creates positive externalities for the rest of us.  Remove the idle rich and most of Manhattan's finest restaurants would have to close.  There would be half as many Broadway shows.  Granted, the cost of a pied-a-terre in New York City would probably be a third of its current price.  But what's the point of having a Manhattan condo if there's nothing to do once you get there?

What brings all of this to mind is a Commomwealth Fund study which claims people feel "financial stress" if their health expenditures exceed 10% of income (5% if you're poor), and measures the amount of stress people endure from community to community . . . (pause to take that in) . . . . I'm not kidding. They actually did this.

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