All this crap going on in Washington
It started out simple enough; do we keep the Bush tax cuts or not. Simple answer should have been that raising taxes in a depression is not smart economics, so keep them.
The Democrats, being the Robin Hoods that they are, said OK but not for the wealthy or those making $250,000 and above. Well, $250,000 does not make anyone wealthy in this day and age so why not tax the people making $500,000 or more? That would be a compromise that would make sense…but no.
Obama made a deal with the Republicans to keep all the tax cuts but allow unemployment benefits to continue for another year on top of the 2 years already in place. The Republicans said yes even knowing that those unemployment benefits are keeping people from looking for work and actually increasing our unemployment rate and I have personal evidence to prove this is so.
OK now both sides have something they want but still no because Obama agreed to an estate tax deal and on this issue the Democrats who leave at the end of this month, stopped everything cold in its tracks…why?
Let me explain estate taxes / inheritance tax and why they piss me off. Let’s say I work my ass off all my life and died leaving my estate or whatever money I made in my life to my children. I paid taxes on everything I made so the government should be satisfied…NO. The government wants 55% of that estate leaving my children with 45% of MY money.
We call this the “death tax” because it is a tax on someone’s death like a penalty for dying.
In 2010, the estate tax was at zero ($0) and Republicans want to eventually do away with it all together. If nothing is done in Congress, the tax in 2011 will jump to 55% of any estate above $1 million. Obama’s compromise with the Republicans would change that to 35% on estates above $5 million for individuals and $10 million for families and that should make perfect sense to everybody but NO.
Why is there an estate tax to begin with? Here you can get into a lengthy debate but historically the estate tax was to prevent the perpetration of wealth or put another way, stopping the accumulation of wealth in families (Rockefellers, etc.). Why?
The Democrats are adamant at keeping the estate tax high because they need money to spend on their pet projects like giving out money to those in need and where best to get that money than from people who have it.
Well I have worked very hard in my lifetime and I want my kids to benefit from my hard work and not some Democrat imbeciles.
OBAMA’S TAX BILLS NEED TO PASS NOW!
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