William H. Gates Sr. and Chuck Collins in The American Prospect, June 17, 2002 In this TAP piece, Bill Gates, Sr. and Chuck Collins, remind us that, "[Republican President Theodore] Roosevelt and others of his day understood that the American experiment was an attempt to balance economic liberty and free enterprise, on the one hand, with a traditional concern about democracy and the dangers of concentrated wealth and power, on the other. The estate tax, adopted in 1916, was one of the means by which Americans rejected the Old World, with its political and economic monarchies."