Liberals always demonize “The Rich” but you NEVER hear them talk about this

One of the great things about America is that previous generations attempt to build a future for subsequent generations. I saw that from my own parents who saved and invested so that college education and an inheritance would be left for their three boys — of whom I am the middle son. I remember the day my dad made that last payment on 651 Kennesaw Ave NE in Atlanta, Georgia. In 1959 he’d purchased that house and property for $20,000. And the dream was that it would be passed on and kept as a family treasure — Mom and Dad even made sure there was a trust left to pay the property taxes. All this came from a lower middle-income couple — but they had a dream, a vision.

And so it is today that my wife Angela and I have invested in two properties in Florida and Texas, which will be left to our two daughters, Aubrey and Austen. Along with property, we intend to save, invest, and impart to them a comfortable nest egg — and yes, we will ensure they complete college without any debt, just as Buck and Snooks West did for me. That is the true American dream. That is our genetic code, our DNA.

And this is why the Death Tax must be killed. And please, spare me the incessant progressive socialist talking point about taxing the rich. There are some 71 percent of Americans who want the “Estate, Inheritance, Death” Tax to die.

But it might be a slow death.

As reported by Forbes.com, “The House of Representatives voted to kill the federal estate tax today 240-179, with 7 Democrats joining. That doesn’t mean that the estate tax is going away anytime soon, but anti-death tax advocates say it sets the stage for possible repeal in 2017. Significantly, the bill keeps in place a provision called “stepped up basis” that allows capital gains to escape taxation if passed to heirs. For now, there aren’t enough votes in the Senate, and President Obama has stated he would veto estate tax repeal anyway.”

Now, I’ll let you do the calculation but let me assist, just how many Democrats are there in the U.S. House of Representatives? Consider that only 7 believe we as Americans have the right to save, invest, and pass on better wealth and opportunity to our children and grandchildren. And in the Senate there are 47 Democrats, you need 60 votes to pass the Death Tax repeal that passed the House. But even more important, that cheeky fella who says he’s all about helping Americans has issued a veto — sounds like an intransigent Marxist/socialist ideologue to me. Even worse, we don’t have enough in the House and Senate to override a presidential veto.

When will the class warfare and wealth envy end in America? So let me understand, are the proponents of the Death Tax telling Lebron James that he shouldn’t be able to “concentrate his wealth” for his children — or how about any other sports figure or entertainment celebrity? I find it odd how the liberal progressive left never mentions names like Kanye West and Kim Kardashian. Oh yeah, they’re part of the growing Soviet-style politburo. It’s just us working stiffs and schmucks that they don’t want to have economic independence. And certainly it seems the left doesn’t want to advance the idea of economic growth by way of individual and private sector investment.

Here is the truth, and the pro and con assessment. “Only 2 out of every 1,000 people who die are subject to the federal estate tax, according to Tax Policy Center estimates. That’s because there’s a huge exclusion amount–$5.43 million per individual or $10.86 million per couple—before the tax kicks in (the top rate is 40 percent).”

“Arguments for repeal: it would spur the economy and lift burdens on owners of small businesses and farms. Karen Madonia, chief financial officer of Illco, a Chicago-area HVAC supplies distributor, testified on Capitol Hill last month how an estate tax on her father’s death would mean selling parts of the company (shutting down branches, laying off workers or liquidating inventory) to pay it.”

“Arguments in favor of the tax: it helps reduce concentrations of wealth and produces additional revenue. Repealing the tax would cost the Treasury $270 billion over 10 years. On average, 55 percent of the value of estates worth more than $100 million is made up of unrealized capital gains that have never faced income or capital gains tax, according to Americans For Tax Fairness’ review of Federal Reserve Data.”

It seems the argument for keeping the Death Tax is all about wealth redistribution and that the federal government knows what’s best for spending other’s money.

I want to build up wealth for Aubrey and Austen so that it can be turned over to them and they can continue to invest and grow. And as they continue to invest as Angela and I have done — guess what happens for our American economy? It grows. Now, instead the federal government, ok, liberal progressives, want that money so they can waste it, promote their vision of crony capitalism, and redistribute wealth in order to provide for the general welfare nanny-state.

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23 Comments on "Liberals always demonize “The Rich” but you NEVER hear them talk about this"

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dmacleo
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I think of it a more basic term, why should anyone other than the designated parties get anything from an estate? why do people think the government should have a right to steal from someone? the progressive tax code is the root cause of all of this. way too many people (on both sides of the political spectrum) think its ‘fair” to tax someone more only because they have done better in life than someone else. if we stick with an income tax everyone (no exceptions) should pay (as an example) 10% federal and 10% state income taxes. no rebates,… Read more »
Sa Poplick
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Because the government said so, and they can not be reasoned with.

Doug
Guest
The Death tax is the unkindest cut of all. It hits people like farmers the hardest, who happen to hold substantial amounts land. And, thanks to the government (Federal Reserve), land values are skyrocketing. It doesn’t take much land to be hit with a huge tax. The inadvertent effect, in just this one case, is that family farms are sold to large corporate farmers so that estates can pay the extortion. Family businesses are ruined in the same way. Worse, the tax dollars are pissed away on useless and wasteful programs or spend on unworthy people. Great country we live… Read more »
Pat Warden
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It’s bad enough that while I’m alive democrats want to redistribute my income and yet they want to redistribute my property after I am gone. BUYING VOTES with other people’s money!!!!!!!!!

Sick of politicians
Guest

Two of the most despicable, vile, immoral humans and they think their shit does not stink. They have no talents except fukng and showing it to people. Not sure how people can be that useless with no feelings about it.

Zei Ky
Guest

Shame they can’t use their talent and wealth to better the world.

Sick of politicians
Guest

Talents? What talents? He cannot sing without the magic box. He is a racist asshole. She is nothing but a slut that fks anything with or without a dick. Both are a waste of air.

Zei Ky
Guest

Absolutely true, they have no talent whatsoever.

Temporary ID
Guest

Here in the UK, the death tax is called “voluntary” by the smarter accountants because well-advised people transfer their properties to their kids before they, er, buy the farm. So long as one lives for at least seven years after transfer, you’re all good and your children don’t give the gubmint more money to waste. Is that arrangement possible in the US? (“No taxation without representation” – how many votes does a stiff have?)

Mac P.
Guest

If they are voting for Obama, apparently dead stiffs have many votes.

regulate
Guest

I believe you can only “gift” over to your kids around $14,000 per year in the U.S., so if you have a sizable estate, it’s not possible unless you live to a gazillion.

Sa Poplick
Guest

Put things in your children’s name when they are young they are then co owners. Don’t tell them just leave the will. No courts no attorneys and all legal.

John Kerry's Forehead
Guest
The people who think this is a good idea are either the super wealthy who can afford to hide their money (in other words the wealthy liberal Hollywood elite and Congress) and the poor schmucks who drink the liberal Koolaid mantra of redistribution. Funny part is, those taxes merely go to big government and get wasted on bull squat. Those truly in the need don’t see a penny, and often, pointed out in this article, it leaves many more dependent on the government dole once their job goes away because the company owner had to liquidate the business to pay… Read more »
David Akers
Guest

The falsehood of the death tax debate is that the rich and powerful do NOT pay much, if any, in death taxes. Why you might ask? They have the money and the power to find ways around the law…it’s always been that way and always will be that way as long as there is no term limits on congress….why would they care what ordinary Americans have to suffer through as long as they can STAY in politics and keep the power to themselves?

Brendan
Guest

I love when rich people… or more honestly, shills who work for rich people, cry “class warfare” whenever anyone talks about taxing the rich.
It creates the false impression that the poor are greedy and lazy and trying to take from the rich.

Sorry folks… there is class warfare in this country all right… but it wasn’t started by the poor.
Every time Mr West or any of a hundred other conservative puppets rambles on about the poor taking from the rich, they are perpetuating a false stereotype to broadbrush the entire working class… they are committing class warfare.

Earl Reeves
Guest

Gotta love you Liberal Obamacrats. We know the poor folks pay most of the taxes. Try getting someone on Welfare to give you a job.

Brendan
Guest

Congratulations on proving my point you brainless talk radio dittohead.
I wrote that these shills try to broadbrush working class Americans with people on welfare… and you just did the same.
All you did was repeat the class warfare talking points against working class Americans that your idols preach.

Oh … and the biggest recipient of government handouts and taxpayer money are large corporations moron.
Corporate welfare takes in the most… so I guess in answer to your dumb question… millions of people are hired by people on welfare.

Brendan
Guest

Oh… and WTF does the picture of those two idiot celebrities have to do with this article?
Nothing.
just more of Mr West trying to confuse the issue.

I can't tolerate idiots
Guest
I can't tolerate idiots

You are so dumb, you clearly didn’t read the article. It’s right in there…

Brendan
Guest

Wow… you’re retarded.
Yes, i know he mentions their names… as a distraction.
but what does that have to do with this article about the estate tax?
Nothing.
He just put it them in there for no reason and suggested that liberals defend them.
Really?
When have liberals defended those clowns in any way dealing with estate taxes?

Brendan
Guest
Oh… and liberals don’t always demonize the rich Mr West. They demonize companies that take government assistance (American tax dollars) and hide money overseas to avoid paying taxes. They demonize companies that try to crush organized labor and kill the middle class. They don’t demonize everyone who got rich and they don’t demonize success. They demonize people who got rich by bending the rules to steal from others. The demonize the fat cats who knowingly abused the system on Wall Street to make billions , while crashing our economy and putting millions out of work. Those are the rich people… Read more »
CheetoBuster
Guest

I never understood why democrat voters complain about being taxed and then vote for more taxes….idiots! I know of democrats who have had homes left for them by relatives and are now complaining about all the taxes they have to pay on it….hey idiots, you voted for this garbage…wake the hell up already!!

Fiveseven
Guest

It’s because liberals never see the real-world consequences of their actions. They live in a bubble and vote for candidates that propose more taxation as a way to “help” the “underprivileged.” It’s their way of letting themselves off the hook and avoid doing the hard work of actually helping people who are less fortunate than themselves. It also lets them go to sleep every night convinced that they’re “compassionate.”