Friday, April 17, 2015

Estate Taxes: Liberal Ghouls Feast on the Dead

Want to make a liberal hyperventilate?  Declare a tax break for those who actually pay taxes, better yet, repeal the infamous Death Tax.  Do that and you’ll hear the beltway courtesans howl all the way from the Boston – New York – Washington D.C. corridor.

Dana Milbank, of the Washington Post, almost soiled his underroos when the House Rules Committee took up a bill to repeal this ghoulish taking.  After all, the beneficiaries didn’t earn that.   A dying man’s wish accounts for nothing to a liberal, because all estates, dead and accounted for, belong to the federal government.  They are first and foremost when it comes to picking the carcass.

Mr. Milbank couldn’t pass up the opportunity to take a swipe at the tea party.  Even to this day, these people cannot comprehend the fact that this grassroots uprising is amorphous.  No one organization controls the tea party.  Not only does he have to lie about patriotic Americans who truly want to reform this ravenous government, he also relies on the prevarications of a liberal organization to reinforce his talking points.  Here is an excerpt from his article:

This is the ultimate perversion of the tea party movement, which began as a populist revolt in 2009 but has since been hijacked by wealthy and corporate interests. The estate tax has been part of American law in some form since 1797, according to the advocacy group Americans for Tax Fairness, as a shield against the sort of permanent aristocracy our founders fought to rid themselves of.

Never trust a liberal.  Always check out their sources and their assertions.  Americans for Tax Fairness is a progressive organization whose mission is to redistribute the wealth of others.  Their co-chairs and staff consist of a hodgepodge of socialists, union organizers, and activists.  They’re endorsed by almost every progressive whack-job in the country.  And Dana Milbank is using this advocacy group as a reliable source?  How can anyone take this guy seriously?

If you want to know the history behind the estate tax all you have to do is look it up on the internet.  Here is synopsis by the National Center for Policy Analysis published in July 2000:

The U.S. Senate has followed the House in voting to repeal the estate tax. Estate tax supporters claimed that from the beginning, it was designed to redistribute wealth. But history shows the it existed solely for revenue purposes until the 1930s.

The first estate tax -- enacted July 6, 1797, to help pay for naval rearmament -- required only the purchase of federal stamps for wills and estates, but was terminated four years later because the need for the revenue passed.

A direct tax on inheritances imposed in 1862 during the Civil War ranged from 0.75 percent to 5 percent.

The top rate was raised to 6 percent in 1864; but the tax was then abolished July 14, 1870.

In 1898, an estate tax with a top rate of 15 percent on estates over $1 million was imposed to pay for the Spanish-American War -- then repealed on April 12, 1902.

America's fourth estate tax, enacted in 1916, set a top rate of 10 percent on estates over $5 million. It was raised to 25 percent in 1917, but this rate applied only to estates over $10 million. Unlike its predecessors, it was not repealed after the war, although the top rate was dropped to 20 percent in 1926.

President Franklin Roosevelt raised the top rate to 60 percent in 1934, and to 70 percent in 1935. The same bill increased the top income tax rate to 75 percent and increased corporate taxes. Altogether the law raised just $250 million annually.

Today the estate tax goes up to 60 percent. It exists only to redistribute income, since its revenue yield is negligible. But estate planning makes the tax virtually voluntary, according to estate tax experts.

Liberals fear nothing more than an informed citizenry.  If you see a libtard moving his lips, chances are, he’s lying.


No comments: