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Old 10-22-2005, 09:29 PM   #1
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One of the most persistent themes in Chomsky’s work has been class warfare. He has frequently 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 one percent. The American tax code is rigged with “complicated devices for ensuring that the poor — like eighty percent of the population — pay off the rich.”

But trusts can’t be all bad. After all, Chomsky, with a net worth north of $2,000,000, 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, for all of his moral dudgeon against American corporations, finds that they make a pretty good investment. When he made investment decisions for his retirement plan at MIT, he chose not to go with a money market fund, or even a government bond fund. Instead, he threw the money into blue chips and invested in the TIAA-CREF stock fund. A look at the stock fund portfolio quickly reveals that it invests in all sorts of businesses that Chomsky says he finds abhorrent: oil companies, military contractors, pharmaceuticals, you name it.[

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Old 10-23-2005, 03:38 PM   #2
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Why pick on Chomsky? The term "limousine liberal" has been around longer than he has.

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Old 10-23-2005, 03:56 PM   #3
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The article certainly poses reasonable questions, particularly considering the kind of rhetoric Chomsky has used to make that fortune.

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Old 10-23-2005, 04:08 PM   #4
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I agree, excellent points made here.
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