I have nothing against some good and healthy Intergenerational Wealth Transfer - it's an important tool in building strong communities. And it's worked wonders for everybody who's been born into White Middle Class America because of course, our system is the perfect mechanism for separating the people who're smart and rich from the people who're lazy and stupid.
To paraphrase: Capitalism has not failed us; you have failed Capitalism.
But "good and healthy" is not what we're doing with the No-Taxes-For-Rich-People-Ever policy drift, and it should be really obvious that it's not what we're doing, now that we've been trying to do it that way for 35 years (rapidly accelerating for the last 15), and we've ended up having to spend billions of precious few tax dollars to subsidize millions of Americans who can't quite make it working their asses off at Wal-Mart just because we refuse to elect politicians who have the balls to tell Alice Walton she'll have to figure how to eke out a living on something less than the interest she "earns" on her personal fortune of more than THIRTY-FUCKING-BILLION-DOLLARS.
Tax the fuck outa the estates of the UberRich and we won't get any more Legacy-Fuck-Pukes like George W Bush as "president".
Call it the Paris Hilton Prevention Act, and make sure it never sunsets.
To paraphrase: Capitalism has not failed us; you have failed Capitalism.
But "good and healthy" is not what we're doing with the No-Taxes-For-Rich-People-Ever policy drift, and it should be really obvious that it's not what we're doing, now that we've been trying to do it that way for 35 years (rapidly accelerating for the last 15), and we've ended up having to spend billions of precious few tax dollars to subsidize millions of Americans who can't quite make it working their asses off at Wal-Mart just because we refuse to elect politicians who have the balls to tell Alice Walton she'll have to figure how to eke out a living on something less than the interest she "earns" on her personal fortune of more than THIRTY-FUCKING-BILLION-DOLLARS.
Tax the fuck outa the estates of the UberRich and we won't get any more Legacy-Fuck-Pukes like George W Bush as "president".
Call it the Paris Hilton Prevention Act, and make sure it never sunsets.
this was the whole purpose of the estate tax to begin with, and that purpose still exists. the income from interest & dividends should also be taxed at ordinary rates, at least. I find it odd, in a country where hard work is supposedly glorified, that non-earned income enjoys tax rates lower than income earned by the sweat of one's brow.
ReplyDeleteUnfortunately, the whole point of the exercise has slipped back into "sit on your ass and get somebody else to do the work".
ReplyDelete