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Oligarchy (Read 29 times)
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Oligarchy
01/29/19 at 15:57:46
 
You don't think so?  You may want to think again.

Senate Republicans reintroduce bill to repeal the estate tax

The legislation was offered by Sen. John Thune (R-S.D.), the number two Senate Republican, and is co-sponsored by more than two dozen others in the caucus, including Senate Majority Leader Mitch McConnell (R-Ky.) and Senate Finance Committee Chairman Chuck Grassley (R-Iowa). Thune has repeatedly introduced legislation to repeal the estate tax.
http://thehill.com/policy/finance/427328-senate-republicans-reintroduce-bill-...

Ending the estate tax would give a tax break of up to:
- $63.6B for the Walton family, the owners of Walmart
- $39.1B for the Koch brothers
- $27.8B for the Mars candy bar family
- $13.4B for the Cox cable family
- $0 for more than 99.8% of Americans


Again I ask - where are the conservative posters on here who spew conspiracy theories about "who's really in charge", cloward-piven and the like?  Hmm?  Anyone?

Oh but wait - this is a republican idea... so - nothing to see here I guess, huh?


SMH

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Eegore
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Re: Oligarchy
Reply #1 - 01/29/19 at 16:22:19
 
 Well if it were a proposal that looks into the interest of the majority then there would be a cutoff around the 30-40% mark.  This would allow most citizens to be free of the tax, including most farm/ranches etc. while maintaining the tax liability for the few that are in the billions worth of equity.

 I'm not sure what the ethics of this is though, as it would basically be saying "You have enough already" without a clear depiction of what "enough" is and why.
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Trippah
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Re: Oligarchy
Reply #2 - 01/31/19 at 06:44:08
 
It really is about wealth, that is all.  Is America a nation that supports equal opportunity or a nation that supports once you have it it is yours to spend or hoard as you will.   Wealthy people support keeping their wealth wether it is earned of inherited.  Equal opportunity folks think we should reduce taxes on earned income and redistribute wealth as it is passed on to the next generation.  Good arguments on both sides, though choices have to be made.

ps .. why do you suppose income from the investment of capital (wealth) is taxed so much less than income from labor.  Guess who writes the tax code. Wink
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