Chomsky's Nest Egg

In Paul Johnson's book 'Intellectuals', he argues that a common thread among the thinkers he surveyed was an enthusiasm for government spending on public goods, and a matching lack of enthusiasm for personally contributing to said spending. By this criteria at least, Chomsky indeed deserves to be Public Thinker Number One!

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. He named his tax attorney (every socialist radical needs one!) and a daughter as trustees. To the Diane Chomsky Irrevocable Trust (named for another daughter) he has assigned the copyright of several of his books, including multiple international editions.

Chomsky favors the estate tax and massive income redistribution -- just not the redistribution of his income. No reason to let radical politics get in the way of sound estate planning.
TCS: Tech Central Station - The Branding of the World's Top Intellectual: Noam Chomsky