3jack

Nice set of tooth you have there........cracker

buffalo Loc: Texas

If an economic system seeks to reward hard work, risk, and talent, then surely inheritance is anathema to it, yet most wealthy capitalists would want to pass on their money to their offspring. Why do capitalists believe in inheritance of wealth?

Adam Smith, Thomas Jefferson, Thomas Paine, Herbert Hoover, Theodore Roosevelt, Bill Gates & Warren Buffet are all opposed to inherited wealth.

Adam Smith: A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural.
There is no point more difficult to account for than the right we conceive men to have to dispose of their goods after death.

DAMN, was Smith a communist?


The Founding Fathers agreed. Virtually all of the early states had severe inheritance taxes.

The states left no doubt that in taking this step they were giving expression to a basic and widely shared philosophical belief that equality of citizenship was impossible in a nation where inequality of wealth remained the rule.

North Carolina's 1784 statute explained that by keeping large estates together for succeeding generations, the old system had served "only to raise the wealth and importance of particular families and individuals, giving them an unequal and undue influence in a republic" and promoting "contention and injustice."

Abolishing aristocratic forms of inheritance would by contrast "tend to promote that equality of property which is of the spirit and principle of a genuine republic."

I think people sometimes forget just how radical the Founding Fathers were. I wonder if those Tea Party & others who so praise them would be so happy with that! LOL!

The concentration of wealth into fewer and fewer hands is not serving the US well and our wise Founding Fathers knew this 250 years ago.

Chocura750

Some people commenting may not be aware that the estate tax applies only to the very small percentage ( 2 of every 1000 ) of those estates with taxable amounts over $5,400,000.00. There are significant deductions from the gross estate to reach the $5,400,000.00 net estate. I believe farmers can spread the tax over a number of years.

S. Maturin

Early Americans quite possibly saw the inheritance of wealth in relationship to the universally- hated inheritance of titles and nobility. A sort of 'carry-over'.

permafrost Loc: Minnesota

Junkie,

the law (estate tax) lets 5 million plus exempt from taxation.. 10 million plus for the spose,,

Killing the estate tax will be a huge gift to about .001% of the very richest of Americans. It will also affect the bottom line for the tax revenue which is vital.

and one more thing.. Farmers would be nearly unaffected because the rules for write off and the actual dollars involved are far higher then any farm operation in America is worth..

America 1 Loc: South Miami

You have way to much experience in sucking.
Better double up on the knee pads.

CounterRevolutionary

Chocura750, we want people to get rich! We want everybody to get rich. How?

I do not want Bill Gates's money, I want his customers!

How do young people acquire start-up capital for a new business when the bank says they are too risky for a loan, even though they are employed?

Yet the same bank will loan billions of dollars to Congress that is already $20 TRILLION dollars in debt!

We can remedy this problem by understanding a few laws in economics:

We need to understand a financial law about taxation:

LESS = MORE

Cutting taxes creates business GROWTH

GROWTH creates more industry, more jobs, higher wages

Hence, Growth EXPANDS the TAX BASE

which, in turn, creates MORE TAX REVENUE

More Tax REVENUE pays down the NATIONAL DEBT

Hence, Congress stops borrowing money from the private banks

Therefore the private banks will take the risk to lend to small businessmen

So we all don't die of boredom working at Walmart for our entire lives.

Do you understand this? We have so many creative people with so much to offer humanity, raising our standard of living with art and beauty.

The government is not Robin Hood. It does not tax the rich and give to the poor. It taxes everybody and like Garfield the Cat, it grows in its own weight and girth.

It takes 100 bureaucrats to change a light bulb. One to hold the bulb, two to turn the ladder, and 97 more paper-shuffling bureaucrats to instruct the first three bureaucrats to turn on the lights.

When will you Democrats stop pitching the greed and envy card?

America Only Loc: From the right hand of God

It must be your lunch time...you keep using words that describe your food...like arse and mans ass....yum yum for you time! Lickety lick...punky boy!

America Only Loc: From the right hand of God

America Only Loc: From the right hand of God

I'll let Trump know he needs to pass a tax law just for you....$1,000.00 tax on each Goat you have.....it may help your relationship out as your Goat can have more "self esteem" knowing it is worth more than just you diddling it!

3jack

Cutting taxes does not necessarily create business growth, That is a fallacy that has been around for ages. When business taxes are reduced, the savings are not necessarily reinvested in the company or used to hire more employees. If there was a stipulation associated with the tax breaks that required companies to reinvest or increase hiring, it could work. However, there is no way to include such language in the code, so the companies take the tax cuts and pass the money on to their CEOs, stock holders or investors. I doubt that you can give any viable example of a company or corporation taking a tax cut and using that tax cut to increase production or hiring. The state of Washington gives the Boeing Company millions in tax breaks but instead of reinvesting that money in production and hiring in Washington, they take the money and move production to right to work states while reducing the workforce in Washington. That's just one example of corporate greed. I don't know anyone who is envious of corporate greed but other greedy corporation. When will you Republicans stop pitching the "I've got mine so screw you" card?

America Only Loc: From the right hand of God

Aww geez....you poor lil porch monkey.

America 1 Loc: South Miami

I don't think the goat likes the diddling, and has been head butting him for fooling with it's butt

Randy131 Loc: Florida

What a bunch of babbling BS. If you want to know who the rich really are, compare who has the most millionaires in the US Congress, and look at who the ten richest are, and remember, when you see those numbers, that the Democrats have a lot less people in the US Congress than does the Republicans.

For the last 8 years we've lived in a stagnat economy because Obama and the Democrats have done everything in their power to destroy the rich, but have only decimated the middleclass instead. As the rich are hurt, the jobs are lost, and the middleclass is destroyed.

The only way the US has survived under Obama and the Democrats rule is that Obama averaged a $1.35 trillion deficit for every one of his 8 years, and no other President has even ever come close to a trillion dollar deficit, and this was done in what Obama and the Democrats claim was 7 1/2 years of Obama's proclaimed economic recovery of June 2009. This has caused the doubling of our national debt in only 8 years, that took all previous Presidents 232 years to acquire, and will probably end up destroying the US dollar and collapsing the US economy, unless President Trump can some how save us.

During Obama's Presidency he had dropped from the 'US Workforce' over 17 million unemployed Americans of working age (16 years to 54 years of age), lowering the participation rate to it's lowest percentage in 40 years, and during 7 1/2 years of a supposed economic recovery, causing more Americans to be unemployed than at any time in our history.

When Obama became President he inherited 17 million unemplyed Americans on 'Welfare & Food Stamps', and when he left office, and after 7 1/2 straight years of his economic recovery, President Trump has inherited nearly 50 million unemployed Americans on 'Welfare & Food Stamps'.

President Trump is attempting to reverse all this, and all you can do is make up lies to try to stop him, showing you want all those Americans to be without a job and on 'Welfare & Food Stamps', just like Obama and the Democrats want to keep them, so they'll be dependent on the Democrats for their livelihood through entitlement payments, that will assure their votes for Democrats.

But most intelligent people know this, but would prefer to have a job where they can be independent of their Democratic masters, that hand out all that 'Welfare & Food Stamps', which is why they elected President Trump to do exactly what he is doing, and you're trying to fear monger the American people in order to try to get the people to stop him, because the Democratic Party can't exist unless they have people dependent on them for handouts.

3jack

And just what is Trump trying to do to "reverse all this"?