You are currently browsing the category archive for the ‘Raise Estate Tax’ category.

As we approach the new year, the clowns will begin dropping out and all begin to take a serious view over who can be our next president.  By now a normal trend; it happens every four years.

The reason we have to put up with the clowns is  because across all of America, there is gross disenchantment over  the way things are.   A gross enchantment so huge, that unifies both the extreme right and extreme left into a larger classification.

These two opposite sides actually have a common denominator.  Both sides are both unhappy how the needs of real human beings are being trumped by those whom they have elected and trusted to serve them.

On the right it is the tea party types who are erroneously easy to dismiss as primitive forms of intelligence.  On the left is its those who exhale in triplicate just to hear themselves breathe, usually with complaints regarding how good programs are not good enough to their liking.

Or so each are characterized by the other side’s talk radio hosts…..

But in reality, both have a deep love of the America they grew up under and see it slipping away by the minute.  Both share the same vision that America needs to be great again, but simply differ on the approaches required to achieve that aim which can be characterized as such.  The left believes we need to change somethings in our system of governing; the right believes we have to change individual people one by one.

The common enemy in both parties surprisingly is the bloc of moderates spanning both parties who compromise too freely against their parties values and who seem  too prone to cater to business at the expense of individual constituent’s wishes and demands.  Rather bizarrely, we three parties, if you include this business class in the middle of both and only when two of the three agree, does anything get accomplished.

In Delaware this is played out in the opt out movement where the Governor (business party) used his veto and the head of the House of Representatives (business party) shows no sign of bringing it up to be overturned.. Enough votes (Dems and Repubs) are present to do so, just little procedural matter is all that is now boxing up the two wings wishes…’

Nationally the same scenario is being played out in that all the candidates are the same except one.  Only one candidate of either party is taking on corporate America.  All the rest are fortressed and supported by Corporate America marking all the differences actually existing between them as petty and insignificant when compared to the pressing needs at hand.

No matter who is elected, we can have no real change over the next four years unless that one who is different and from Vermont, wins.

So despite all the banter our main stream media is giving us, (whose staff is primarily and pathetically reduced to snooping on Twitter and putting that up as “real news”), the real question emerging as voters begin to look seriously, needs to be:  who will actually make that change that benefits me?

Only one.  Right now only one candidate’s platform can make the huge changes required to wean America off its penchant for developing profits, and turn America back to work on developing its people. Which is what the extremes of both right and left believe need to be done.

Because behind all the arguments about trade, abortions, shootings, and economics, the real solution to making your life better, is to put more money into your pocket as well as the pockets of the rest of the 99%.,…

Because you really aren’t politically free, unless you are also economically free. For unless you can quit that job you don’t like, can’t stand, or hate, and quickly find another one, you are not free.  If you have no choice but to work at that crumby job, you simply do not taste freedom.

Only one candidate’s platform will change that now;  it requires raising taxes on the one percent.

According to Fortune estimates, on this planet global households together have amassed over  $250 trillion in assets.   The one percent now owns 50% of that which translates into their ownership of $125 trillion in net worth. If this net worth were conservatively earning 7% per year in interest ($17.5 trillion), and the capital gains tax were raised to 50% marginal levels only on this select group, it would pump a lost $8.5 trillion back into the economy per year.

This is money that could be spent on combating global warming.  This is money that could be spent on making normal citizens earn more.  This is money that could be spent on ending hunger world wide. This is money that could rejuvenate cities providing great future for ones youth. This is money that could be spent on education.

And this money is absolutely free.

For the $7.5 trillion taxed and reinvested through governments around the world will offer (at minimum) a 2:1 rate of investment, meaning that the $7.5 trillion taxed and spent will generate a yield a $15 trillion return on that investment. Which since the wealthy own one half of all wealth, this means they get to re-pocket $7.5 trillion which they just gave up.  And if investment returns are higher, by ratios of 3, 4, 5,  even 10, they make out big time. Win, win, win.

Right now, only one person says he will do this.

Compared to this sea change, none of the other little things matter. If that yearly $7.5 trillion dollars through increased economic activity, is averaged out to all the 7.5 billion of this planets dwellers (of course it won’t be), it actually gives every single person a $1000 dollar increase of money they get to keep… They will see it in two ways; one they will see part of it in expenses going down and part of it in salaries going up.

Only one person across both parties fields has the wisdom take on Wall Street now knowing that it gets more expensive to do so by each hour.  OUT of all the candidates on both parties… ONLY ONE is not beholden to the interests of the top 1%.

You need to send him  money, whether you’re a Republican or Democrat. Both party’s networks are thoroughly tainted by corporate money. But one person isn’t…

In 2002 we gave the top one percent a loan from the American people which was to make us all wealthier over time.  They got their money, and kept it; we were polite and nice about asking for restitution. Apparently enough time has gone by, they think it is theres.  Meaning, it’s now past time we called back our loan which we originally gave to the top 1% via the Bush Tax Cuts. …










Simple… it is unfair for hardworking innovative Americans to work for less while children of wealthy parents get fortunes handed to them for no reason other than the accident of birth.

This is bad for society at large.   Those children did nothing to earn their money…  If they want to be rich, they should create wealth on their own efforts, just as did their parents.  Even still, coming from luxury they have many steps up over the 99% of Americans who have to work to survive.  We should not reward insolence and luck, while penalizing potential and effort…

But that is what not having an estate tax does.

Most of a wealthy person’s assets are never taxed.  Under the “realized capital gains” clause, items that gain value but are never cashed in, have capital gains that are never realized and therefore no tax is assessed.  If you bought a ’69 Chevy with a 396, fluid heads and a Hurst on the floor, for $3500 in 1975…. Today at worth of $55,000 it would sit, untaxed, until sold and only after then would tax be assessed.

The Estate tax is the only time most of the wealth of wealthy people, sees itself taxed and the most typical item handed down is stock.

The push to eliminate the estate tax entirely is a concentrated effort to allow all this wealth to go forever untaxed. When the estate gets sold off,  that $50,000 car sold at Southbys goes straight to the owner’s heirs as realized capital gains, never getting taxed….

So what is wrong with that, you ask?

if that money is not paid by the wealthy at time of death before being divided up to its heirs, it must be paid in some other form by those earning less, and working harder.  The money is still needed.  Not getting that money here means that someone else has to pay for it…. and the question comes down to this….  If we must have this money, is it better to take it from a dead person who will never need it? Or a live person who desperately needs every dollar they get in order to live?

That answer is obvious.  Which is why to argue for the removal of the estate tax must hinge on class privilege.  Since one cannot justify forcing poor human beings to pay for the needs of wealthy people, one has to degrade those suffering as being sub human.  Like we did slaves.  Or native Americans. Or an entire race of dark skinned people allowed by an amendment of our Constitution after the Civil War to become citizens equal to all within our borders. We told ourselves they were not human and performed all sorts of atrocities upon them.

So if you accept the argument that non-wealthy do not matter, (47%) that only wealth has the right and obligation to run this country, then you get an argument that can be bought on repealing the estate tax.

It would have to feed on human negatives and state that you must allow the money to stay in family hands….. so THEY….. don’t get it…

Primarily, that is the only argument in favor of this act.  It is a base, selfish act that assumes the money belongs to the dead person….

Now if you take the economic perspective, and recognize that money is good only when it gets used, recognize that because our government prints money, all money really belongs to government, (it just lets us use it for free while we are alive), then true evidence pushes for raising the estate tax, not lowering it. Return as much of the estate as one can back to its real owners, “We The People”….

Estate taxes do fund programs.  Programs which pay people; which buy manufactured goods, which provide necessary services… all of which put that money back into the economy.   So taxing an estate at higher and higher rates, creates funds that can accomplish a lot of good.

  • They help reduce the deficit and national debt.
  • They help put people to work, and provide services making lives better.
  • They can be used to cut other taxes.

Currently estate taxes are levied only on the largest of estates…with amounts over $5 million dollars.  The gigantic estates do generate a lot of revenue to government.  If that tax is repealed that money would have to come from higher taxes elsewhere, or more incurred debt, or deeper cuts in services…. or most likely, from all three simultanously….

Finally, America is proud of its work ethic.  No matter what ones class, all are proud of the hard work they do to make a living and look down on those who don’t work, but have things given to them…. Repealing the estate tax throws this American value on its ear.  We are rewarding laziness, insolence, and debauchery by giving estates of great wealth to those who did not earn them.

America must remain the land of opportunity.  Everyone must have the same break as everyone else… But that does not happen when money is allowed to pass down within families from one generation to another.  Those children need to work hard like everyone else.

It is simply unAmerican to repeal any estate tax.  It must become America’s duty to raise it much higher so all begin on equal footing when making their future  economically solid…..