DEATH TAX REPEAL ACT OF 2015
H.R. 1105
SEN. JOHN THUNE (R-S.D.)
H.R. 1105
SEN. JOHN THUNE (R-S.D.)
H.R. 1105 was passed in the House and on March 25, this year, and was introduced to the Senate Finance Committee. So far, there has been no debate in the Senate; but, Sen. John Thune, the main sponsor of the Death Tax Repeal Act in the Senate, has made his opinions known. He was interviewed on Fox Business News by Neil Cavuto, March 25, this year and the FACT CHECK.ORG said, “In making his pitch to repeal the estate tax , Sen. John Thune grossly inflated an out-of-date statistic about the percentage of businesses forced to liquidate because of the tax.”
He, basically is, a prevaricator.
Roberton Williams, a senior fellow at the nonpartisan Tax Policy Center who spent 22 years at the Congressional Budget Office, agreed. Thune’s claim “just doesn’t jibe with common knowledge,”
For that information go to: Fact Check. org. Thune’s Estate Tax Distortions.
On John Thune’s Senate.gov website: he says, the death tax is a “punitive tax on family farms, ranches, businesses.”
That is a 99% percent lie; because, less than one percent pays the tax: he gives the impression – all are affected.
All taxes are punitive; if, you overlook benefits.
The U.S. Department of Agriculture estimates that with the exemptions, only 0.6 percent of farms would have to pay an estate tax.
They have assets that exceed the exemption: net value of assets $5.43 million single: $10.86 million married. They are mega-big successful farms.
Here is Sen. John Thune, opinion article in the Rapid City Journal, April 13, 2015,
“This tax doesn’t just hit the big guy. It hits the little guy—like the small business and the family farm. It is both unwise and unfair, and it needs to go.”
That is false and wrong:
● According to the USDA Economic Research Service, the average value of farm assets for larger family farms was roughly $3.2 million.
That is far below the exemption; so, the small business and family farm are not affected by the estate tax.
He, basically is, a prevaricator.
Roberton Williams, a senior fellow at the nonpartisan Tax Policy Center who spent 22 years at the Congressional Budget Office, agreed. Thune’s claim “just doesn’t jibe with common knowledge,”
For that information go to: Fact Check. org. Thune’s Estate Tax Distortions.
On John Thune’s Senate.gov website: he says, the death tax is a “punitive tax on family farms, ranches, businesses.”
That is a 99% percent lie; because, less than one percent pays the tax: he gives the impression – all are affected.
All taxes are punitive; if, you overlook benefits.
The U.S. Department of Agriculture estimates that with the exemptions, only 0.6 percent of farms would have to pay an estate tax.
They have assets that exceed the exemption: net value of assets $5.43 million single: $10.86 million married. They are mega-big successful farms.
Here is Sen. John Thune, opinion article in the Rapid City Journal, April 13, 2015,
“This tax doesn’t just hit the big guy. It hits the little guy—like the small business and the family farm. It is both unwise and unfair, and it needs to go.”
That is false and wrong:
● According to the USDA Economic Research Service, the average value of farm assets for larger family farms was roughly $3.2 million.
That is far below the exemption; so, the small business and family farm are not affected by the estate tax.
This chart—shows: only 0.6 percent of farm operator estates paid the estate tax in 2013. Therefore, Thune is a liar.
Sen. John Thune was also interviewed on Fox Business New by Deirdra Bolton on April 16, this year and he said: [the death tax] “taxes people up to 40% on everything they have earned and acquired over their life times.”
That is also false: Not everything: only, on what exceeds the exemption. He implies all people. The tax is not on what they have earned: most of that is spent on living expenses: not part of the estate. I am sure he meant life time—not life times. To be frank, he is a very clever lair; partly true, but mostly false.
He also said, the American people “overwhelming believe this is an unfair tax;” if, that is true—it is because they have been misled, partly by him: it benefits the top 0.2 percent: not the 99.8 percent of the people.
What is unfair: stiffing Uncle Sam of his contribution to personal success: economic stimulus, subsidies, the use of the nation’s infrastructure, the exploitation of the nation’s natural resources, etc., letting millionaires and billionaires escape paying back taxes owed, and letting them dump their public debt on future generations that did not create it.
Here is the truth: told by Sen. Bernie Sanders (I-VT), "this amendment is not about family farms or small business. This amendment exclusively [benefits] the wealthiest 0.3 percent of the families in this country."
Thune’s argument, it penalizes and punishes family farms and businesses is a ruse, to get sympathy, to repeal the tax on multi-millionaires and billionaires who owe back taxes from under taxation since Reagan.
But the problem: Fox Business News: doesn’t interview Sen. Bernie Sanders—or Rep. Jim McDermott (D-WA), he calls the repeal of the estate tax a “massive unfunded tax break” for the wealthiest households and disputes the claim the estate tax hurts farmers. The reason people, might overwhelmingly favor repeal, Fox Business News, does not interview those opposed to repeal. Neil Cavuto let Thune get away with all his distortions—and said it was a pleasure talking to him: showing collaboration.
If, people correctly understood: HR 1105: the Death Tax Repeal Act of 2015, at least, the bottom 90 percent would be opposed to repeal.
Deirdre Colton, the other Fox Business News anchor, said, she was playing the devil’s advocate: meaning asking a question that supports the devil’s design—or political views of billionaire Rupert Murdock, her employer, and she got the that answer when she asked Thune, one of the biggest criticisms of the estate tax repeal is that: “it creates an American Aristocracy, right, and the rich just get richer.”
And he answered, “Well, that is not true.”
Again, he is stinking liar….
The repeal does exactly that. Here is why: an extra $20 billion a year could be transferred to heirs tax free, also because H.R. 1105 maintains the stepped up in basis treatment of capital gains—which are canceled out—at the time of death: that adds to the income of the top 0.2 percent. And , it also retain the $14 K annual and the $5 million life-time gift tax exemptions, which means also, large amounts of assets or property could be transferred to children and grand children tax free during life. That is a big advantage over those that work for living and pay taxes on wages.
Thune says, “currently, 70% of small [family] businesses [or farms] fail in the second generation and 90% fail in the second generation.” But John Thune is blaming it on the Death Tax: that is a lie; mostly, because, 99.4 percent don’t pay the estate tax: the big reason; likely, children have other plans.
Edwin R.A. Seligman, an economics professor at Columbia University of the City of New York wrote in 1925: “the estate tax is the results of one of the modern democratic movements of the world. When you have a democracy you have an income tax and Estate tax.” And, he was not referring to a flat income tax.
Sen. John Thune wants to repeal the estate tax; and, he is rated zero, the lowest score by Citizens for Tax Justice-- reflecting opposition to progressive taxation; therefore, against both these democratic tax principles.
He also signed the Norquist no-tax increase pledge: meaning he serves MONEY—not democratic tax principles.
In the French Revolution: he would have been beheaded and deservedly so. He would cripple Uncle Sam’s ability to stand.
The 37 cosponsors of S. 860, the Senate bill, are all Republicans: they also deserve beheading with Thune, the leader of the Death Tax repeal. The top ten percent of estates owe back taxes since Reagan. This repeal: let’s them off the hook for these unpaid back taxes from unjust enrichment and robs Uncle Sam of an estimated $270 billion over ten years iand the tax on unrealized capital gains in the estates of decedents—[that he contributed to] and would aid the transforming of this nation into a Plutocracy.
THE RAT PACT
Sen. John Thune hosted a bi-cameral-bi-partisan Death Tax Repeal Act Press Conference on June 20, 2013.
His guest: Rep. Kevin Brady (R-Texas), Senate Minority Leader Mitch McConnell (R-Ky), Sen. Orrin Hatch (R-Utah), Rep. Mike McIntyre (D-N.C.) Rep. Kristi Noem (R-S.D.), Karen Madonia, Chief Financial Officer of ILLCO, Inc., Jim Martin of 60 Plus, Steve Foglesong, owner of Black Gold Ranch, and Grover Norquist, Americans for Tax Reform.
Thune began the press conference by saying, “we don’t believe death should be a taxable event:” why, not, if, the decedent owes back taxes?
Why not, if capitals gains have never been taxed?
Rep. Kevin Brady (R-TX)—liar (i.e., one who intentionally distorts facts for personal and family monetary gain).
Sen. Orrin Hatch (R-Utah)---liar. He said, the Death tax is unfair, because the super wealthy avoid it anyways. He has been a senator since 1977: why hasn’t he plugged those loopholes, GRATs; because, he is a member of the Rat Pack.
Rep. Mike McIntyre (D-N.C.)---liar….
Rep. Kristi Noem (R-S.D.)---deceptive…
Sen. Mitch McConnell (R-KY) -- used the same old false and deceitful arguments [or dirty tricks]-- to repeal the estate tax on multi-millionaires and billionaires. Now, we know who is responsible for raising the estate tax exemption to $5 million in 2011: robbing Uncle Sam of billions: he confessed.
Karen Madonia, the Chief financial officer of ILLCO Inc, pleaded the cause of small grieving family farms and businesses that don’t pay the tax. Note: IllCO is a relatively big corporation: not a small family business. She is devious.
Jim Martin of 60 Plus—a 501 (c) non-profit advocacy organization. He is opposed to [all] tax increases and the Death Tax: that is how he rakes in money. Some of his contributors linked to the Koch Brothers.
Steve Foglesong, owner of the Black Gold Ranch, benefits from government subsidies to farmers, the use of the nation’s natural resources, the infrastructure, and other government services---Why, is he complaining?
The Nation has a rising $18 trillion debt.
Grover Norquist, the last guest, is the architect of the No Tax Increase Pledge: renouncing your congressional power to raise taxes—to get funding for your political campaign: that is unconstitutional. He is the Devil [incarnate].
If, Republicans really wanted to solve the estate death tax problem for family businesses and farms, they could suspend paying the estate tax while their children operate these farms and businesses until they are sold.
Caveat: that is, if they have no other liquid assets.
There is no legitimate reason for repealing the estate-inheritance-gift tax on estates of multi-millionaires and billionaires.
They owe Uncle Sam the tax and their heirs.
None of the Rat Pack mentioned: how, HR 1105— retains the stepping up in basis treatment of capital gains—and the $5 million life-time gift tax exemption: two big tax-breaks for the rich ‑‑creating a super-rich class of Americans that live off of tax free inherited income and tax free inter vivos transfers of wealth and enjoy all the benefits of government and nation, while the working man pays taxes on wages.
Andrew Carnegie wrote in the Gospel of Wealth: the estate tax -- "Of all forms of taxation, this seems the wisest," Today, Republicans: think it is unfair, immoral, and a terrible tax and gives it a derogatory name: the Death Tax.
Here is what Mitch McConnell said during his campaign for re-election: I need your help —referring to the Koch Brothers. Now, in 2015, he pays back-- by supporting the repeal of the Estate-Inheritance-Gift Tax. He says, he wants to end this tax once and for all on multi-millionaires, like himself, and billionaires.
His opponent, Allison Lundergan Grimes, a democrat, opposes the repeal of the estate-inheritance-gift tax, but she lost to the juggernaut of big money.
Let’s see what this Cabal of Republicans Criminals--do.
The Death Repeal Act of 2015 is a fraudulent bill; because, it cheats Uncle Sam and benefits the ultra-wealthy.
It retains the stepped up basis rule, which is justified to mark up estate assets to impose the Estate Tax at the death of the owner, but, it has no justification, when repealed. It cancels out the tax on unrealized capital gains at death.
That rule is omitted in the TEXT.
It retains the life-time gift exemption, which has some justification, because, it reduces the estate tax exemption at death; but, it has no justification, if the estate tax is repeal. Both of these tax-breaks on the rich are retained.
That rule is mentioned in the TEXT, but not the amounts of the annual gift exemption: $14,000 per person and the $5 million life-time gift exemption indexed for inflation; virtually, eliminates the Gift Tax.
● In FY 1999 – 2001, gift tax revenues were $3.9 billion to $4.7 billion, when the exemption was $650,000 to $675,000.
● In FY 2002 – 2006, gift tax revenues were $1.4 million to $2 million, when the exemption was $1 million to $2 million.
● In FY 2011 – 2014, when the exemption was $5 million: I cannot find the data for gift tax revenues: meaning it is insignificant.
Holiday gifts should not be taxed; but, these are not. These intervivos transfers of income or assets should be taxed as gifts [or income] on an annual bases and paid by the donee [not the donor]: the gift tax tables in the H.R. 1105—OK.
The repeal of the Estate Tax and the repeal of the gift tax: permits the transfer of large amounts of wealth at death—tax free—and large amounts of income or assets during life—tax free--creating a perpetual aristocracy.
In 1935, Franklin Roosevelt said, “The transmission from generation to generation of vast fortunes by will, inheritance or gift, is not consistent with the ideals and sentiments of the American people.”
Republicans today—disagree! They call it unfair and immoral—and a terrible tax that punishes and penalizes family farms and business: that is misrepresentation, because 99.4 percent don’t pay the tax.
It has already passed the Republican controlled House: Now, the DEATH TAX REPEAL ACT OF 2015 goes to the Senate for passage [or amendment]. That bill is S. 860.
These are photos of the 37 cosponsors: all Republicans
Sen. John Thune was also interviewed on Fox Business New by Deirdra Bolton on April 16, this year and he said: [the death tax] “taxes people up to 40% on everything they have earned and acquired over their life times.”
That is also false: Not everything: only, on what exceeds the exemption. He implies all people. The tax is not on what they have earned: most of that is spent on living expenses: not part of the estate. I am sure he meant life time—not life times. To be frank, he is a very clever lair; partly true, but mostly false.
He also said, the American people “overwhelming believe this is an unfair tax;” if, that is true—it is because they have been misled, partly by him: it benefits the top 0.2 percent: not the 99.8 percent of the people.
What is unfair: stiffing Uncle Sam of his contribution to personal success: economic stimulus, subsidies, the use of the nation’s infrastructure, the exploitation of the nation’s natural resources, etc., letting millionaires and billionaires escape paying back taxes owed, and letting them dump their public debt on future generations that did not create it.
Here is the truth: told by Sen. Bernie Sanders (I-VT), "this amendment is not about family farms or small business. This amendment exclusively [benefits] the wealthiest 0.3 percent of the families in this country."
Thune’s argument, it penalizes and punishes family farms and businesses is a ruse, to get sympathy, to repeal the tax on multi-millionaires and billionaires who owe back taxes from under taxation since Reagan.
But the problem: Fox Business News: doesn’t interview Sen. Bernie Sanders—or Rep. Jim McDermott (D-WA), he calls the repeal of the estate tax a “massive unfunded tax break” for the wealthiest households and disputes the claim the estate tax hurts farmers. The reason people, might overwhelmingly favor repeal, Fox Business News, does not interview those opposed to repeal. Neil Cavuto let Thune get away with all his distortions—and said it was a pleasure talking to him: showing collaboration.
If, people correctly understood: HR 1105: the Death Tax Repeal Act of 2015, at least, the bottom 90 percent would be opposed to repeal.
Deirdre Colton, the other Fox Business News anchor, said, she was playing the devil’s advocate: meaning asking a question that supports the devil’s design—or political views of billionaire Rupert Murdock, her employer, and she got the that answer when she asked Thune, one of the biggest criticisms of the estate tax repeal is that: “it creates an American Aristocracy, right, and the rich just get richer.”
And he answered, “Well, that is not true.”
Again, he is stinking liar….
The repeal does exactly that. Here is why: an extra $20 billion a year could be transferred to heirs tax free, also because H.R. 1105 maintains the stepped up in basis treatment of capital gains—which are canceled out—at the time of death: that adds to the income of the top 0.2 percent. And , it also retain the $14 K annual and the $5 million life-time gift tax exemptions, which means also, large amounts of assets or property could be transferred to children and grand children tax free during life. That is a big advantage over those that work for living and pay taxes on wages.
Thune says, “currently, 70% of small [family] businesses [or farms] fail in the second generation and 90% fail in the second generation.” But John Thune is blaming it on the Death Tax: that is a lie; mostly, because, 99.4 percent don’t pay the estate tax: the big reason; likely, children have other plans.
Edwin R.A. Seligman, an economics professor at Columbia University of the City of New York wrote in 1925: “the estate tax is the results of one of the modern democratic movements of the world. When you have a democracy you have an income tax and Estate tax.” And, he was not referring to a flat income tax.
Sen. John Thune wants to repeal the estate tax; and, he is rated zero, the lowest score by Citizens for Tax Justice-- reflecting opposition to progressive taxation; therefore, against both these democratic tax principles.
He also signed the Norquist no-tax increase pledge: meaning he serves MONEY—not democratic tax principles.
In the French Revolution: he would have been beheaded and deservedly so. He would cripple Uncle Sam’s ability to stand.
The 37 cosponsors of S. 860, the Senate bill, are all Republicans: they also deserve beheading with Thune, the leader of the Death Tax repeal. The top ten percent of estates owe back taxes since Reagan. This repeal: let’s them off the hook for these unpaid back taxes from unjust enrichment and robs Uncle Sam of an estimated $270 billion over ten years iand the tax on unrealized capital gains in the estates of decedents—[that he contributed to] and would aid the transforming of this nation into a Plutocracy.
THE RAT PACT
Sen. John Thune hosted a bi-cameral-bi-partisan Death Tax Repeal Act Press Conference on June 20, 2013.
His guest: Rep. Kevin Brady (R-Texas), Senate Minority Leader Mitch McConnell (R-Ky), Sen. Orrin Hatch (R-Utah), Rep. Mike McIntyre (D-N.C.) Rep. Kristi Noem (R-S.D.), Karen Madonia, Chief Financial Officer of ILLCO, Inc., Jim Martin of 60 Plus, Steve Foglesong, owner of Black Gold Ranch, and Grover Norquist, Americans for Tax Reform.
Thune began the press conference by saying, “we don’t believe death should be a taxable event:” why, not, if, the decedent owes back taxes?
Why not, if capitals gains have never been taxed?
Rep. Kevin Brady (R-TX)—liar (i.e., one who intentionally distorts facts for personal and family monetary gain).
Sen. Orrin Hatch (R-Utah)---liar. He said, the Death tax is unfair, because the super wealthy avoid it anyways. He has been a senator since 1977: why hasn’t he plugged those loopholes, GRATs; because, he is a member of the Rat Pack.
Rep. Mike McIntyre (D-N.C.)---liar….
Rep. Kristi Noem (R-S.D.)---deceptive…
Sen. Mitch McConnell (R-KY) -- used the same old false and deceitful arguments [or dirty tricks]-- to repeal the estate tax on multi-millionaires and billionaires. Now, we know who is responsible for raising the estate tax exemption to $5 million in 2011: robbing Uncle Sam of billions: he confessed.
Karen Madonia, the Chief financial officer of ILLCO Inc, pleaded the cause of small grieving family farms and businesses that don’t pay the tax. Note: IllCO is a relatively big corporation: not a small family business. She is devious.
Jim Martin of 60 Plus—a 501 (c) non-profit advocacy organization. He is opposed to [all] tax increases and the Death Tax: that is how he rakes in money. Some of his contributors linked to the Koch Brothers.
Steve Foglesong, owner of the Black Gold Ranch, benefits from government subsidies to farmers, the use of the nation’s natural resources, the infrastructure, and other government services---Why, is he complaining?
The Nation has a rising $18 trillion debt.
Grover Norquist, the last guest, is the architect of the No Tax Increase Pledge: renouncing your congressional power to raise taxes—to get funding for your political campaign: that is unconstitutional. He is the Devil [incarnate].
If, Republicans really wanted to solve the estate death tax problem for family businesses and farms, they could suspend paying the estate tax while their children operate these farms and businesses until they are sold.
Caveat: that is, if they have no other liquid assets.
There is no legitimate reason for repealing the estate-inheritance-gift tax on estates of multi-millionaires and billionaires.
They owe Uncle Sam the tax and their heirs.
None of the Rat Pack mentioned: how, HR 1105— retains the stepping up in basis treatment of capital gains—and the $5 million life-time gift tax exemption: two big tax-breaks for the rich ‑‑creating a super-rich class of Americans that live off of tax free inherited income and tax free inter vivos transfers of wealth and enjoy all the benefits of government and nation, while the working man pays taxes on wages.
Andrew Carnegie wrote in the Gospel of Wealth: the estate tax -- "Of all forms of taxation, this seems the wisest," Today, Republicans: think it is unfair, immoral, and a terrible tax and gives it a derogatory name: the Death Tax.
Here is what Mitch McConnell said during his campaign for re-election: I need your help —referring to the Koch Brothers. Now, in 2015, he pays back-- by supporting the repeal of the Estate-Inheritance-Gift Tax. He says, he wants to end this tax once and for all on multi-millionaires, like himself, and billionaires.
His opponent, Allison Lundergan Grimes, a democrat, opposes the repeal of the estate-inheritance-gift tax, but she lost to the juggernaut of big money.
Let’s see what this Cabal of Republicans Criminals--do.
The Death Repeal Act of 2015 is a fraudulent bill; because, it cheats Uncle Sam and benefits the ultra-wealthy.
It retains the stepped up basis rule, which is justified to mark up estate assets to impose the Estate Tax at the death of the owner, but, it has no justification, when repealed. It cancels out the tax on unrealized capital gains at death.
That rule is omitted in the TEXT.
It retains the life-time gift exemption, which has some justification, because, it reduces the estate tax exemption at death; but, it has no justification, if the estate tax is repeal. Both of these tax-breaks on the rich are retained.
That rule is mentioned in the TEXT, but not the amounts of the annual gift exemption: $14,000 per person and the $5 million life-time gift exemption indexed for inflation; virtually, eliminates the Gift Tax.
● In FY 1999 – 2001, gift tax revenues were $3.9 billion to $4.7 billion, when the exemption was $650,000 to $675,000.
● In FY 2002 – 2006, gift tax revenues were $1.4 million to $2 million, when the exemption was $1 million to $2 million.
● In FY 2011 – 2014, when the exemption was $5 million: I cannot find the data for gift tax revenues: meaning it is insignificant.
Holiday gifts should not be taxed; but, these are not. These intervivos transfers of income or assets should be taxed as gifts [or income] on an annual bases and paid by the donee [not the donor]: the gift tax tables in the H.R. 1105—OK.
The repeal of the Estate Tax and the repeal of the gift tax: permits the transfer of large amounts of wealth at death—tax free—and large amounts of income or assets during life—tax free--creating a perpetual aristocracy.
In 1935, Franklin Roosevelt said, “The transmission from generation to generation of vast fortunes by will, inheritance or gift, is not consistent with the ideals and sentiments of the American people.”
Republicans today—disagree! They call it unfair and immoral—and a terrible tax that punishes and penalizes family farms and business: that is misrepresentation, because 99.4 percent don’t pay the tax.
It has already passed the Republican controlled House: Now, the DEATH TAX REPEAL ACT OF 2015 goes to the Senate for passage [or amendment]. That bill is S. 860.
These are photos of the 37 cosponsors: all Republicans
I noticed in the photos: Sen. Ted Cruz and Sen. Marco Rubio: both running for the U.S. presidency: both would repeal the Estate Tax: they are not your friends.
Their strategy to get elected: more tax breaks on the Wealthy.
I also see the photo of Sen. Mitch McConnell – remember: he appeared at the Sen. John Thune Press Conference and said, “…uh, I have always felt the Death Tax was, uh, a government’s final outrage that you had to visit both the undertaker and the IRS on the same day. And, if you think about it, uh, is, as I just heard Kristi saying—as I walked in, the…the impact of this is largely felt by, uh, people, who look like they have a lot of money on paper, but, in fact, are really [unintelligible} with a heck of a challenge in getting the family farm [?…] small business down to the next generation.”
You know, I thought about it—and this is an outrageous lie. Sen. Mitch McConnell is your #1 enemy in the Senate—as I have said before.
I also noticed four women in the photos: don’t let their smiling faces deceive you: they are just as evil as the men. They all signed the Norquist no tax increase pledge: renounced their congressional power to raise taxes to pay for governments expenses to get funding for their political campaign from the rich. That is unconstitutional.
The average net worth of U.S. senators; nearly $11 million: they use this ruse: the Death Tax punishes small family farms and business—people who work hard all their lives to built a nest egg; then, the government swoops in a takes nearly half when you die: to get rid of the Estate-Inheritance-Gift Tax on them. That is a dirty trick.
I believe the Estate-Inheritance-Gift Tax should be reformed not repealed: it could double or triple federal tax revenues and create jobs—by repairing the nation’s crumbling infrastructure, but that is not a top priority to Republicans: reducing tax of the super-wealthy is a top priority: Reagan did it, Bush did it, and now, that Republicans control both Houses: they want to repeal the Estate-Inheritance-Gift Tax on the multi-millionaires [themselves] and the ultra-wealthy.
This could incite: the Reign of Terror!
Their strategy to get elected: more tax breaks on the Wealthy.
I also see the photo of Sen. Mitch McConnell – remember: he appeared at the Sen. John Thune Press Conference and said, “…uh, I have always felt the Death Tax was, uh, a government’s final outrage that you had to visit both the undertaker and the IRS on the same day. And, if you think about it, uh, is, as I just heard Kristi saying—as I walked in, the…the impact of this is largely felt by, uh, people, who look like they have a lot of money on paper, but, in fact, are really [unintelligible} with a heck of a challenge in getting the family farm [?…] small business down to the next generation.”
You know, I thought about it—and this is an outrageous lie. Sen. Mitch McConnell is your #1 enemy in the Senate—as I have said before.
I also noticed four women in the photos: don’t let their smiling faces deceive you: they are just as evil as the men. They all signed the Norquist no tax increase pledge: renounced their congressional power to raise taxes to pay for governments expenses to get funding for their political campaign from the rich. That is unconstitutional.
The average net worth of U.S. senators; nearly $11 million: they use this ruse: the Death Tax punishes small family farms and business—people who work hard all their lives to built a nest egg; then, the government swoops in a takes nearly half when you die: to get rid of the Estate-Inheritance-Gift Tax on them. That is a dirty trick.
I believe the Estate-Inheritance-Gift Tax should be reformed not repealed: it could double or triple federal tax revenues and create jobs—by repairing the nation’s crumbling infrastructure, but that is not a top priority to Republicans: reducing tax of the super-wealthy is a top priority: Reagan did it, Bush did it, and now, that Republicans control both Houses: they want to repeal the Estate-Inheritance-Gift Tax on the multi-millionaires [themselves] and the ultra-wealthy.
This could incite: the Reign of Terror!