Home | About | Donate

For the Cost of Repealing the Estate Tax, Congress Could Buy Everyone in America a Pony


#1

For the Cost of Repealing the Estate Tax, Congress Could Buy Everyone in America a Pony

Rachel West, Harry Stein

"Alternatively, instead of providing tax cuts for millionaires or ponies for children, lawmakers could also use $1.5 trillion in many other ways to create jobs, reduce child poverty, end homelessness, make college free, or provide paid family leave."

At a time when 44 percent of Americans couldn’t come up with $400 in an emergency—and 9 in 10 prefer economic stability to greater economic mobility—Americans aren’t asking for ponies, presents, or parades. And they’re really not asking for massive tax cuts for millionaires, billionaires, and corporations.

#2

Giving more tax breaks to the winners and expecting some benefit to accrue we the people so ignorant as money never trickled down as wealth always flowed to the elite owners and only corrupt media repeating daily propaganda for the war profiteers been in charge all media since we lied into the Spanish American war and every war ever since no exceptions.


#3

Just the headline is worth repeating. But thanks for the reasoned follow-through.


#5

The headline kind of sums it up… “Let’s have the government take money to buy everyone a present to make them feel good”

Rarely do we see such honesty from partisans


#6

and @WWSmith

I thought you guys understood sarcasm.

Anyway, did you look at the economics? Do you understand how few USAmericans pay the Estate Tax? It’s not you and me and the “masses” of djt voters. Read through to just one link embedded in the OP:

(this link is to the abstract of the report; the full is downloadable from a tab on this page)


#7

The problem isn’t because poor people are poor; the problem is because the rich never think they are rich enough, give them more.


#9

“Giving more tax breaks to the winners…”

i prefer a more accurate frame:

“Giving more tax breaks to the looters…”


#10

Yes, theft is wrong. Let’s repay the Native Americans for the theft of their continent, and the African Americans for the multi-generational theft of their labor and culture.

You are so full of shit with your phony sanctimony on behalf of the looting class.


#11

Not colonizing the world is not a cost. Learn economics.


#12

No, it’s what we’ve known and cherished since the Great Depression as progressive taxation, and since the early centuries of the Common Era as “from each according to their means, to each according as they have need.”


#13

Yes, for the love of Christ, we’ve got God on our side!

i’m not a believer of course, and big props to those who actually practice the teachings of Jesus. But the crass hypocrisy of “Christianity” as practiced by the phony Churches…


#14

I would have preferred a less whimsical comparison… Buy everyone a pony indeed… How about something a bit less frivolous?


#15

I wasn’t calling up “God on our side,” but trying to poke at those who might be offended by Karl Marx.

Irony and sarcasm just aren’t selling around here these days.


#19

The policies that are leading to quickly growing inequality in America are the cause of the increases we see today in lawlessness, homelessness and poverty. These policies are policies of choice written, legislated and controlled by the elite


#20

It’s hard to believe we are even talking about repealing a tax first passed in 1916. But a modicum of egalitarianism has to go I guess.


#23

Discredited by whom? Not everyone thinks those with the greatest access and benefits to government-granted privileges shouldn’t pay a bit for it. I don’t think the Koch family is too put upon, what with all the services they utilize and benefit from.


#24

According to an IPS report, the Forbes list of the top 400 American billionaires hold more wealth than the bottom 61% of the nation combined. In the years of the Obama administration, the top 1% of the population captured 95% of the post-recession increase in income. This is the legacy Hillary Clinton promised to continue.

Recent data indicate this scenario may now well be the case. Between 2014 and 2016, researchers from the Swiss bank Credit Suisse report, the wealth of America’s top 1 percent jumped by $3.53 trillion, from $32.26 trillion to $35.79 trillion. During the same period, the wealth of America’s bottom 99 percent dropped by $2.52 trillion, from $51.74 trillion to $49.22 trillion.
That decrease was borne almost entirely by the bottom 90 percent. Those in between the top 1 percent and the bottom 90 percent about broke even between 2014 and 2016.


#25

Every time there is a crisis, the taxpayer is called on to bail out the banks and the major financial institutions. If you had a real capitalist economy in place, that would not be happening. Capitalists who made risky investments and failed would be wiped out. But the rich and powerful do not want a capitalist system. They want to be able to run the nanny state so when they are in trouble the taxpayer will bail them out. The conventional phrase is “too big to fail.”


#26

The Koch Brothers and their New England uppercrust relatives are still exploiting Native Americans of their coal.
Of course the Tribal Officers and the BOA are in on graft as well.
Can damn well tell what economic and social strata author is from, “everybody wanted a pony”, while am old and realy only true minority within US " Old Contrarian males, damned few working people I knew wanted a th horse to feed. They were mainly happy to feed their family.
We did have a work horse for plowing and logging. And some neighbors still had horse and wagon or buggy, and this was in whate flatlanders spoiled kids of then, today call the good old days.
Never thought of stealing one mans earnings to pay for my health care, light bills, free education, rent or damned sure not for some broads abortion.
All the wanna be upper middle class do not want to lose their privileged tax positions, and give up more housing and autos than they barely afford
Do not want to pay for their little angel education even when they get a tax break for set asides that are at above any expendable incomes of so.e 49%of the working poor.
Let alone pay for daughters Bastard chold, let gov lay and then train unwed mom for kid talking to and about unwed moms.
White women got classified as a minority and no matter economic strata got to use college scholarships supposedly put in Place to help minority blacks and brown skin pigments.
The whoteupper to lower middle class with all theenrances to benefits the poorer wage earners could not access never seemed to mind the cheap prices of that low wage earners labor.
Yes there is a lot wrong with the economic system today. But now that system has come to a point where it was clear back in Founding of nation.
At founding no o be expected gov t make up for their personal failures , fairness had nothing to do with Constitutional Law, heck fairness and justice words are but three words in whole manuscript.
Odd this socialism became so “necessessary” once the two generations from lucrative 1950-70 mom and daddy and grandma’s wealth is running out. Wealth they built up under a far easier time and they moved capitalism.
I DO NOT WANT A PONY" BUT PLEASE ALMIGHTY GOD IN DC, SEND ME A MERCEDES BENZ


#27

I’m not sure where they get their figures…no where near 1.5 trillion in taxable estates as the law now stands.