2009/04/13

Here we go again with the Class Warfare...

I'm sorry (No I'm not, I'm actually more pissed that sorry) but, this “Asshat” Editorial, titled “Protecting the wealthy,” published April 12, 2009 in “The Blah” just cries out for a rebuttal...


"UNEMPLOYMENT is up, the stock market is way down, the federal government is spending trillions to jump-start the economy, and deficits are being tallied in numbers too big to comprehend. But the United States Senate didn't let that stop it from offering a tax break to the wealthiest Americans."


Translation: They're cutting the confiscatory tax rates on the most successful and productive Americans by making the heavily biased/skewed tax structure a bit more equitable, preserving the incentive to become independent of the Government's (actually, OUR) excessive largess.

“It recently passed an amendment to the budget bill that would raise the estate tax exemption from the current $3.5 million to $5 million for individuals (and from $7 million to $10 million for couples) and reduce the tax rate from 45 percent to 35 percent.”


Okay, so everybody affected by this, raise your hands...

Now let's try that again, but a little differently.

Okay, everybody who wishes that they were affected by this, raise YOUR hands.

Ah, now that's better!

You see everyone dreams of being rich. Unfortunately though, they continue electing yo yo's that think that they know better, while all the time they're working towards making everybody in America equally non-rich and heavily dependent on, you guessed it, the Government, to dole out our nation's wealth as they see fit.

Translation: It's the Robin Hood Syndrome, sort of; Taking form the rich (read as the achievers) and enriching their own lot in life FIRST and buying votes and voters with much of the rest of Your (read as the Rich's/achiever's) EARNED wealth.


“Currently, the estate tax is set to expire in 2010 before resetting in 2011 at 2001 levels: $1 million for individuals, $2 million for couples, and a 55 percent rate, although President Obama has proposed freezing the tax at the 2009 rates. But that wasn't good enough for Republicans and at least 10 Democrats in the Senate, who apparently believe the ultrarich should pay as little in taxes as possible.

According to the Center on Budget and Policy Priorities, a “left-leaning think tank,” (emphasis mine) the provision would cost the federal government $91 billion between 2012 and 2021 compared to the President's proposal, and a whopping $440 billion compared to what would happen if no change were passed.


Translation: The $91 Billion, just as the $440 Billion won't “COST” tne Government. In reality it means that the rightful owners of that money get to keep what the worked for and earned...


“The amendment was the brainchild of Democratic Sen. Blanche Lincoln of Arkansas (home to the Wal-Mart owning, estate-tax-hating Walton family) and Sen. Jon Kyl, a Republican from Arizona, home to a lot of retirees who mistakenly think reducing the tax will protect their families when they die. In fact, the change would help only about one-quarter of 1 percent of the nation's people, the superwealthiest, because nobody else is rich enough to owe the tax in the first place.”


See, I told you they were taking from the rich and allegedly putting things more in balance, as they see it. To me it's just another jealous salvo being fired at the most successful producers of wealth, who, by the way, hire those of us who do not have the education, drive and/or skills to achieve for ourselves on our own. Pure Class Warfare in its most unadulterated form...


“Entrenched interests blather about reducing or, better yet, repealing what they like to call the "death tax," allegedly to protect vast numbers of regular folks from having to sell family farms and small businesses to pay the tax.

But the Tax Policy Center says that only five of every 100,000 people who die this year - that's .005 percent - will be small business owners or farmers rich enough to owe the tax. And virtually none of them would have to sell their business to pay.”


No matter the numbers and the percentages, it's still jealousy, greed and stealing, with the farce of the Government behind them, to back them up...


“Tax opponents conveniently avoid mentioning that, or that right now no taxes at all are owed on the first $7 million couples are worth. The Tax Policy Center estimates that 15,400 people will have to file estate tax returns this year, and only 6,200 of them will actually owe any tax at all.”


Which brings up an interesting question in my mind, what business does the Government have taking any of a deceased person's hard-earned wealth?

That inheritance rightfully belongs to their (the decedent's) designated heirs, of which the Government isn't usually voluntarily included, except in cases of insanity...


“The don't-tax-the-rich crowd also ignores other deductions which typically lower the effective rate on estates to less than 20 percent. So, the tax burden on the nation's elite is much smaller than they'd have people believe. And lest we forget, philanthropy by the ultrarich often is driven by tax advantages that accrue from charitable giving. Reduce the estate tax and that incentive will decline as well, with devastating effect.”


Yet another salvo in the class warfare conflicts; them that can't and hasn't reaches for the dead guy's money..., because they can, not because they have any real/legitimate claim on any of it.

The only consolation is that them that hasn't usually piss it away as quickly as they can, right back into the hands of them that can..., it's the natural cycle of life; that's why them that can gets it in the first place...


“With the government bleeding red ink, the last thing senators ought to be doing is adding to the deficit by cutting taxes on those best able to pay their fair share.“



THEIR FAIR SHARE... (again, emphasis mine)



Let's not even go there..., it'll only start another CLASS WARFARE FIGHT.

6 comments:

Tim Higgins said...

HT,

There seems to be a disconnect here where the Blade chooses to forget that taxing estates by any name is double taxation. It was taxed once when originally earned, why should the government be allowed "double jeopardy" simply because the original earner died.

Of course this may have something to do with the idea that the Block family, based on the current value of their properties, need not worry about this affecting them.

I'm just saying' ...

Hooda Thunkit said...

Tim,

The Death Tax, as I prefer to call it is done just because the government can.

1. Because the Sheeple inheriting it are too timid (not to mention outnumbered) to protest/question the government's "right" (a misnomer) to any of the estate,

-and-

2. The decedent is no longer in a position to question/protest the government taking an, IMNHO, an unlawful cut of the estate..., just because they can.

Seems like a bunch of brokers; every time money changes hands, the take a hefty slice right off of the top.

And, being as THEY make the laws, of course it's legal.

Legal yes, but ethical?

Makes no difference as when our representatives are in session, ethics always seems to be on vacation. . .

L0C0loco said...

The other disconnect is that after having read this post three times, I still can't figure out where you stand on this issue(s). You jump from one side to the other. Can you clarify your position/thoughts for me?

Hooda Thunkit said...

L0C0loco,

Sure!

Simply put, although I am not adversely affected by "gouging the rich," I still aspire to be rich; most everybody does.

What the Gubment is doing is class warfare, pure and simple and it stinks, IMNHO.

Unfortunately, the more inequitable the tax structure, the more sheeple are encouraged to just sit back and collect a check..., and vote for more of the same.

Again, IMNHO, it would serve us right if "the rich" up and moved to more favorable (tax wise) climes, leaving da "poor" with no check each month.

Of course, then people making over say, $60K will become "the rich" until the cycle starts all over again.

Kinda like the swirling when you flush the commode...

I would like it just fine if everybody fed the beast, by paying taxes; at the same tax rate...

Does that help any?

L0C0loco said...

Yup, Thanks. That is where I thought you'd end up - got there pretty succinctly too.

Hooda Thunkit said...

L0C0loco,

Glad my intent came through ;-)

Note:For where Joe's coming from, check here:

http://joe.zawodny.com/index.php/2009/04/16/taxes-and-entitlements/