Perhaps the least understandable as well as least justifiable tax is the estate tax. This is sometimes referred to as the death tax.
First, the company or corporation must pay taxes. Then, if I understand correctly, the owner(s) must pay taxes on their personal income. As if that isn't enough of a double whammy, that greedy gut vacuum called Congress just must get it's mitts on a death tax. Holy smokes, folks, is there no end to this? This morning on This Week, Bernie Sanders was spouting off about more estate taxes.
Let me refresh your memory. I am not a wealthy individual. Neurotic fantasies aside and the occasional Powerball ticket-- I have no real expectations of having to pay a death tax or to leave enough so my children or grandchildren would happen to have such an obligation. This is pure, vindictive taxation. It's like saying, how dare these individuals accumulate so much and not expect us to take one more swipe at it. One could almost hear the anger in Sander's voice as he referred to the rich passing the wealth to their heirs. I suggest you might want to watch a recording of the show on NBC's web site.
I am all for the rich paying their fair share of taxes with no access to loopholes. But, really folks, the operative words are fair share and no loopholes. It isn't any more moral to gouge the rich than to gouge the wage earners or consumers.
One of the things Sanders wants to do with the "extra" money is to provide free public college for all. Laudable an idea as this is, the timing is piss poor, as the crude expression goes. Such luxuries should definitely wait until our budget is balanced; our debts are paid. Have Democrats totally lost their minds? This is as unreasonable in one direction as the Tea Party extremes in the other direction.
The good Lord forbid that I might actually vote for more Republicans next election. I would like to see a little reality orienting among the candidates of my own party.
We need realistic taxes, realistic expenditures and cutting -- not increasing -- of waste in programs. We don't have enough income from taxation to support the social programs we already have, much less for adding new ones.