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As Predictable as 'Death and Taxes,' GOP Pushes Billionaire Estate Tax Cut


As Predictable as 'Death and Taxes,' GOP Pushes Billionaire Estate Tax Cut

Lauren McCauley, staff writer

In another boon for U.S. billionaires, Congressional Republicans are planning to ring in this year's Tax Day with a vote to repeal the federal estate tax.


Rich people don’t have enough money? How sad.


So, cut the food stamp money to the poor to stop them from hoarding their money so you can give it to the rich so they can hoard it for them.


Dump Government issue currency.
Use the block chain to make your own.


Actually from the pt. of view of the mega-rich its necessary since most of their heirs are worthless piles of shit that wouldn’t last 5 mins. on the street if they had to make do. All we need to do now is pass a Constitutional amendment allowing titles and the GOP’s mission will be complete.


That is what I have always felt! How in hell does anyone spend billions of profits a year, and what can possibly be bought, an entire country?? They can not take it with them, and any family members, could not spend it all either, as well as all that is in trusts or secured. Yet, these same heartless jerks, want to take away food for kids! $5 a day, to feed someone……Punish the children, homeless, disabled……How very christian of those radical thumpers……I can not understand, how they can face the public, but then, their voters, probably do not know their congressman votes against them! The propaganda covers this up! Totally sickening that these politicians are throwing away our innocent victims, just like the foreign ones that get bombed in the endless wars….for American profit.


All theyknow is greed! They should spend a month living one the salary and working the actual hours for one of their companies.


Coming from the right sperm bank is like hitting the lottery except winning the lottery is taxed.


That would be slightly similar to the TV reality show, where the co. owner goes to work at some of their stores, to see what is working and what the labor is unhappy about. They are in disguise, and they are amazed and can not do the simplest things, their workers do! But existing on minimum wage, is what the big shots need to do, or eat a lunch for $5, or out of a sack. They have no clue, as they probably never go to any job sites. They would never last a month, or live in some nasty rented apartment. The elite, have gotten so out of touch. They have no empathy, as they never see anything, but wealthy friends, nice homes, fun eateries, nice cars and clothes! They have NO clue, how their own employees live. They also are convinced, that 25 cent pay increase, would bankrupt the company! Poor CEO’s….


I am here to propose (or predict) the next logical step: the negative income tax. Since the very rich are job creators, and their prosperity drives the economy, I propose that the taxes on incomes above $1 million per year should be reduced not just to zero, but to negative numbers. Someone who makes $1 million per year should be rewarded. Negative 10% would be good for a start. That would be $100,000 per year from the government. Someone who makes $10 million- negative 15%. $1.5 million. And so on.

Just reducing taxes to near zero has not produced the kind of employment effects that have always been promised, but the reason is obviously that the rich are not rich enough.

The problem with this country is that rich people have too little money and poor people have too much.

A negative income tax would lead to spectacular increases in motivation on the part of the most important portion of the economy, and jobs and prosperity for all will surely follow, as tornadoes follow storms, avalanches follow snow, and Ebola follows overpopulation.

I hope you’ll all agree that it’s something at least .01% of us can get behind.


Repeating ‘ad nauseum’ because nausea is the only appropriate bile
descriptor for the freakishly subservient, ‘know nothings’ who populate
the Republican Party in the House and Senate. If more than a handful of
them had ever personally met someone, an individual, who “needed” this
exemption on behalf of their heirs’ survival I would be surprised. Up to
TEN MILLION DOLLARS inheritance is already exempt from estate taxes for
the “poor” children of the wealthiest class of our country.
These “poor” heirs have already benefited in life from avoided regular
taxes all their lives. By owning casinos offshore, availing themselves
of depletion ‘allowances’, capital (non-labor) gains, insider trading
exploitation of public pension funds and Ponzi schemes, the uber-rich
now OWN a political party that is trying to suck off bribe contributions
by promising that the oligarchs can OWN & PLAY - BUT NEVER PAY. The
Republicans now propose to sell off the natural heritage of the United
States, Parks Wilderness Areas, the Washington Mall … who knows what
else … so big money contributors can OWN EVERYTHING. Never vote


The foggy intent of the NWO’s International oligarchy is clearing. Shrouded in language like “needing more private/public partnerships” (fascism) that only an idiot would fail to see through, controlling public opinion is tougher and progressives are on the rise.


The Oligarch-owned, The Bought and Paid lying whores running Kongress, working for the Greediest People in History, are attempting to steal more from the 99%.


Spoken like a true convert, lol. Unfortunately, what you write seems to contradict the facts. According to Reuters, "The U.S. tax debate tends to focus on the top 1 percent — their share of income taxes and their tax rates. Anti-tax groups encourage this focus, now embraced by the Occupy demonstrators on Wall Street and across America.

Problem is, the top 1 percent is a very misleading measure of who pays federal income taxes. It mixes doctors and billionaires, masking the taxes paid by the middle class and the affluent.

Everyone seems to know that about half of Americans paid no income taxes in 2009 and that the top 1 percent paid about 37 percent of the income taxes.

But how many people know that households making less than $75,000 collectively paid more federal income tax than those making $1 million or more?

Or that income taxed at the next-to-lowest rate, 15 percent, brought in more government revenue than all capital gains taxes plus the two top brackets, which apply only to the top 2 percent of earners?

Or that almost half of the top 1 percent made less than $500,000? Or that five out of six made less than $1 million?

The fact is that the government relies far more on the bottom 99 percent than the top 1 percent for federal income taxes."


The fact that 1% pay half the taxes is the problem, in that ONLY 1% makes that much money.


Why can public schools not be funded, health care for poor women eliminated, medicaid can not be expanded in red states, roads and bridges allowed to rot? Because the government, Congress, SCOTUS, Wall Street and their proxies run USINC for their personal profit. Call us something like a Banana Republic only we grow no bananas.


I’m not a fan of the 1% nor am I expecting to get or to leave a huge wad of cash. That said, adjust the system so that people are fairly taxed across the board. The tax should be taken when it’s earned. Cut out the loopholes or whatever it takes to make the system ungainable and fair to all. Then when the payer dies, tax the estate for any income it realizes before estate is parted out. If and when the benefficiaries invest their inheritance, tax the money that they earn from that as well. But once the money has been taxed and the tax paid, that should be the end of it.


Well, according to Fact Check. org, your figures are way off. The top 1% earn 18% of all income and pay 28% of all taxes (CBO figures for 2005). And yes, a progressive tax system is fair in that those with more money pay more. What you seem to be missing in your assessment, is the fact that the 1% have acquired and 1/2 of the wealth of the nation, leaving the 99% (including you) with the other 1/2 to split among us. This is money we have earned through hard work, while we see our wages drop and costs rising. And no, the people who work hard for the money (no pun intended) should be paid good living wages, offered decent benefits, and be treated with dignity and respect. precisely the opposite of what is happening now.

I have heard some candidates for office offer the rationale that demands for social justice are based on jealousy, and it made them look like they never progressed mentally beyond junior high. We’re not 12 year olds who get jealous of people’s fancy houses and conspicuous consumerism.


Don’t read the ‘book of holes’. I have gotten enough of that over the years, from the self righteous, bigoted hypocrites, and the current crop of radicals. I do not admire anyone or anything, that seeks control through fear, lies, and gross fantasy. IF there has been NO proof for over 2000 years, about the bible, then I will not pretend to believe to pacify anyone. Any logical, thinking person, that requires facts and truth, can not just blindly accept fables. I tried to do it, but at the tender age of about 8, my mind, failed to buy into it! No one, was the cause, but I just was not handling the indoctrination, and cute stories!


From CNBC dated 1/15/15: “According to the nonpartisan Tax Policy Center, the top 1 percent of Americans paid 33.4 percent of their expanded cash income (a broad measure of pretax income) in federal taxes. Middle class Americans—or those in the middle 20 percent—pay 13.7 percent of their income to federal taxes, while the poorest pay 3.1 percent.”
While that is somewhat higher than the 28% of the 2005 data, it is still nowhere near your figure. I will stick with the numbers I have found, and since they are from 2 different sources and correlate rather closely, I tend to think they’re probably fairly accurate. Since you brought us out into the weeds, there I have been, refuting your statements. But we can get back to the estate tax question, sure.

My position on estate taxes and wealth accumulation is based upon understanding historical trends and having a fairly basic sense of social equity. Your innocuous sounding question of whether I think the government should “confiscate” the money the uber wealthy have 'earned" or leave it for them to hoard, invest or spend as they will conveniently leaves out the (to me) glaringly obvious point that much of the wealth they have accumulated is based upon manipulation of the system-- and relatively little owing to their hard work. I really recommend you watch Robert Reich’s “Inequality for All” as a good primer on how speculation, manipulation, deregulation and outright fraud have brought the country to its current state of inequality.

To answer your question then, by taking it out of the realm of disingenuous euphemisms and putting it squarely in fact-centric realism, these people have used the system to acquire the wealth they have, and yes they should contribute back to the nation from which they have profited, by paying taxes with which the country can rebuild its infrastructure, fund education, help the poor, and function as a civilized nation is supposed to. The whining should stop, it’s downright nauseating. And, by the way, seems pretty unpatriotic to me.