There comes a time when everybody has to choose sides, you have to take a stand about things that matter. In politics we’ve made ours stance clear “Vote for politicians that support less taxation”. Doesn’t matter which party affiliation label is associated with the politician. If they’re for less taxation, we’re with them!
The latest press release regarding the DNC’s presidential candidate declares she wants to install a 65% tax on estate taxes. This is a ‘dagger through the heart’ of prosperity. This is the opposite principal that this country was founded on.
In other words, you spend a lifetime working and building up your estate, paying taxes each year based on your tax filings, and trying to accumulate assets on your ‘After Tax’ income in an effor to build up your estate. Upon your death this candidate wants the government to take (keyword take), up to 65% of the ‘after tax’ value of what you’ve saved over your lifetime, if you reach the top tier threshold.
King George would be proud, we’re just amazed at the ‘Stateism’ of such a platform. How telling this is, as to the way she looks at ‘we the people’; the family farmers, ranchers, small business owners, independant investors, etc. The people who managed to build up a sizeable estate over their lifetime will end up giving the majority of it back to the government upon death. Why bother trying to achieve, innovate, or excel at anything, when the rewards will be taken from you at the end of the road. It seems like this must be what’s behind this idea, as surely there’s not enough $’s even at 100% to pay the debts of the ‘State’, If they take it all it won’t cover their gambling bets. The outrage about this cannot be expressed in any written form, no matter how many pages you dedicate to it. The class division and wealth gap of the 1% (and 1% of the 1%) aside, this is not the answer to the nation’s problems, it is both demotivating and demoralizing to both youth and the inspired entrepreneurs to realize that if you do manage to get to the top of the income achievement hill, the ‘Stateists’ on Capital Hill are going to inherit your wealth at the end of your run.
Here are some quotes from a recent article by Richard Rubin regarding this topic;
“Democratic presidential candidate Hillary Clinton would levy a 65% tax on the largest estates and make it harder for wealthy people to pass appreciated assets to their heirs without paying taxes, expanding the list of tax increases she would impose on the top sliver of America’s affluent”
“The 65% estate-tax rate would be the highest since 1981 and marks one of the most enormous tax-policy gulfs between Mrs. Clinton and Mr. Trump, who would repeal the tax”
“It is the height of hypocrisy for Hillary Clinton to offer an even more dramatic hike in the death tax at the same time she uses exotic tax loopholes reserved for the very wealthy to exempt her Chappaqua estate,” said Jason Miller, a spokesman for Mr. Trump, referring to Mrs. Clinton’s use of residence trusts in New York to lower the value of her taxable estate”
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