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From Class to Caste: How Congress Is Set to Accelerate Inequality by Repealing the Estate Tax


#1

From Class to Caste: How Congress Is Set to Accelerate Inequality by Repealing the Estate Tax

Scott Klinger

This week the Rpublican-controlled House of Representatives plans to pass legislation that would accelerate inequality ensuring today’s merely wealthy become tomorrow’s obscenely rich.


#2

What's the average going rate for purchasing (lobbyists, are you listening?) a congressman, congress woman, or senator?

Let's start our bidding at $5 million per corporation.


#3

Decades of bipartisan financial industry decriminalization (euphemistically called deregulation) including the 2003 estate tax reduction enabled the 1% to buy as any federal politicians as needed to control the US Government.

Eliminating the estate tax will enable the 1% to buy as many state and foreign politicians as they need to control every government on earth (they have already made significant progress achieving this goal).

Their global focus in owning governments is the systematic transfer of all wealth from the 99% to the 1%. They will not stop until they own it all.


#4

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ and on and on and on - a wealthy man.

$$$$ and that's about it - me.


#5

It's already that, and has been since the early '50s, when Wright Mills reported that


#6

The money part is only one aspect of the Power Equation. Citizens are looking down the barrel of totally industrialized "food," a world run amok on global climate chaos, NO political voice, absolutely controlled media and draconian punishments for dissent, and an entirely new era of nobles and serfs... or make that sharecroppers. And don't forget the wars since elites would rather cull the "human herd" than adopt practices that would allow for sustainability for the many... starting with soil reconstitution and agrocecology in the place of genetic mutant mono-crop farms.


#7

I think your dateline is off. It was largely the repeated tax cuts to the rich and largesse towards corporations that shifted the calculus. After WW II (the 1950s) marked the greatest growth of the Middle Class. At that time, only one parent needed to work to purchase a home, and it didn't break the bank to send Johnnie or Susie to college.

Reaganomics, the rollback on the EPA and every other regulatory agency, and tax cuts all produced what the Piketty Study documents. You have taken but one niche and used it to distort the big picture.

Life was pretty good after the 1950s for many, and prosperity was spreading to Black families and Latino families. However, the right wing dynasties couldn't allow for more of that... hence bringing in Ronnie boy, and after he'd done his darnedest to demonize government, enter Clinton to massage both parties into one centrist/bipartisan entity beholden to 1% donors and/or corporate oligarchs. The REST was all downhill... and of course massive redistributions of wealth occurred as a direct result of the Wall St. collapse. Straight out of Naomi Klein's "Shock Doctrine," this disaster created the perfect pretext for boosting up old wealth (the banks and stock brokerage firms) on the backs of lower class and middle class labor. THAT caused "the great redistribution," so I find it telling that you'd bring up data related to the 1950s... in your usual role of covering up the actual and current dynamics of power to send up a smokescreen protective of its most corrupted agents.


#8

Welcome to the New World Order!


#9

You probably didn't notice that I was quoting C. Wright Mills. If you'd like to verify that, it's in The Power Elite, ch 5, sec 2.


#10

This Republican action will result in further CONCENTRATED CAPITAL WEALTH OWNERSHIP, and thus political power. A few within the wealth ownership class already OWN America, and this proposed repeal of the federal estate tax will ensure that they will OWN THE WORLD.

As a substitute for inheritance and gift taxes, a transfer tax should be imposed on the recipients whose holdings exceeded $1 million, thus encouraging the super-rich to spread out their monopoly-sized estates to all members of their family, friends, servants and workers who helped create their fortunes, teachers, health workers, police, other public servants, military veterans, artists, the poor and the disabled.