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Title: The case for eliminating the estate tax
Source:
American Thinker
URL Source: http://www.americanthinker.com/blog ... ase_for_eliminating_the_e.html
Published: Dec 11, 2010
Author: Torin Archbold
Post Date: 2010-12-11 20:08:58 by X-15
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Keywords: taxes, inheritance, robbers
Views: 108
Comments: 6
The recent Bush Tax Cut debate has really shown me the gall of the left. The tax rates are one thing, but its way deeper than that. The real anger comes from the Estate Tax. It seems that the death of millionaires is something that Democrats find as a revenue generator. To Rep. Anthony Weiner (D-NY), the money, property and wealth a man or woman accumulates over their lifetime is the property of the federal government, and it is the federal government that will determine what the family will receive after they have taken their tribute. The children that are usually left the most will have to settle for 65% to 45% of what is left after the government takes what they will take. I guess that Wills are a thing of the past, and God forbid you have a shoebox of cash or jewelry that doesn't get added to the estate value. I wonder what would be the penalty for that? When pressed and told that the money earned was previously taxed. Mr. Weiner said, "They won't be paying taxes," and then he said, "They'll be dead." I was taken aback by the sharp and unapologetic tone in his voice. As if the death of an American millionaire takes a back seat to the money that can be confiscated from them. To him they are just a percentage of the CBO estimated budget reducing revenue. To Mr. Weiner the millionaire's children have no right to their parent's inheritance and the parents have no right to give it to them. Estates are never just a lump of cash, Estate's are most often land, property and running businesses including farms. It is also anything that the Estate appraiser deems to be valuable. Family heirlooms that have been passed from generation to generation will be subject to taxation. The question is, does a man or woman have the right to determine what happens to their money while still alive? Is a will a soon to be forgotten legally binding document? Does the government have the right to confiscate wealth from its dead citizens? Do the children of those that have estates have fewer rights than those that do not? It looks like the left is trying to turn their base not only against the millionaire's that pay the taxes that make this country run, but their heirs too? The Democrats and their cronies want to make it seem as if by taking the dead riches money, it will cure some ill or fix something broken in the country. Mr. Weiner's argument is that it is somehow linked to deficit reduction. As if the party that gave us 5 trillion dollars in deficit spending since 2006 actually thinks there are some out there that believe they care about our spending and national debt. I am not afraid to say that the Democratic Party has become a party of looters and gravediggers, They will forcefully take from anyone that has anything of value. I feel as if I am living at a time right before the John Galt speech in Atlas Shrugged. We are in the Age of Envy and it is what the Democrats want. They are valuing those that need and destroying those that produce for those that need. We need to make it to 2012 and really make the changes necessary to progressively move this country back to a time where there was personal freedom and a Constitution that is believed in and obeyed.
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#1. To: X-15 (#0)
The estate tax is now, and always has been, a way for the hereditary wealthy banksters, whose family fortunes are in trust funds which are exempt from the estate tax, to prevent others from accumulating enough wealth to challenge their power. It is a way to keep people down and "under control". It is a means of ensuring a certain level of poverty.
"One of the least understood strategies of the world revolution now moving rapidly toward its goal is the use of mind control as a major means of obtaining the consent of the people who will be subjects of the New World Order." K.M. Heaton, The National Educator
More people with lesser amounts of money/property need to use trust funds to dodge the tax-man upon their death. It doesn't cost that much to set up one, or several, trust funds.
__________________________________________________________ While it IS a good idea the type of trusts set up by the Robber Baron families are no longer legal - except that those already in effect at the time of the law change were grandfathered. It allows them to pass along the family fortune completely intact free of estate tax in any way, shape, or form from generation to generation.
"One of the least understood strategies of the world revolution now moving rapidly toward its goal is the use of mind control as a major means of obtaining the consent of the people who will be subjects of the New World Order." K.M. Heaton, The National Educator
re: Ted Kennedy, et al That MF'er had a trust fund for every room in his house so that if he raped a woman in a room she could only sue for the value of THAT room, not the whole estate.
__________________________________________________________ Exactly. Old money hates new money the same way Royalty hates peasants with guns.
"The person who agrees with you 80 percent of the time is a friend and an ally — not a 20 percent traitor" - Ronald Reagan
The socialistic Democrats seem to be a party of the attitudinaly, cognitively and/or physically-challenged who look to the wealth-building capabilities of others for survival.
#2. To: Original_Intent (#1)
trust funds
"This man is Jesus,” shouted one man, spilling his Guinness as Barack Obama began his inaugural address. “When will he come to Kenya to save us?"
-Schweizerische Schuetzenzeitung (Swiss Shooting Federation) April, 1941
#3. To: X-15 (#2)
#4. To: Original_Intent (#3)
It allows them to pass along the family fortune completely intact free of estate tax in any way, shape, or form from generation to generation.
"This man is Jesus,” shouted one man, spilling his Guinness as Barack Obama began his inaugural address. “When will he come to Kenya to save us?"
-Schweizerische Schuetzenzeitung (Swiss Shooting Federation) April, 1941
#5. To: Original_Intent (#1)
The estate tax is now, and always has been, a way for the hereditary wealthy banksters,........... to prevent others from accumulating enough wealth to challenge their power
#6. To: X-15 (#0)
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