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Archive for the ‘DeathTax’ Category

It’s not about the money…

Posted by taxguru on September 6, 2012

A recent report from the Tax Foundation about the Estate (aka Death) Tax is receiving some publicity for the small amount of actual tax dollars at stake, as well as the fact that it costs more to enforce the laws than the tax generates. 

In a sane world, this would motivate our rulers to dispense with the Death Tax as too inefficient.  That misses the real reason behind the Estate Tax.

As I have been explaining for decades, two of the main planks of Karl Marx’s Communist Manifesto are Heavy Progressive Income Tax and Abolition of all rights of inheritance.  Both of these concepts are part of the DemonRat agenda, which is itself almost indistinguishable from Marx’s. 

However, the real world experience is that neither one of these concepts generates more money for the government.  Higher marginal tax rates actually result in less economic activity and less overall tax revenue, while lower rates encourage people to work more, with much higher revenues to the Treasury as a result. 

So why would the Dims be against higher government revenues?  It’s found in the first plank of the Communist Manifesto, Abolition of Private Property.  Their overall goal is to reduce the amount of wealth in private hands.  They would rather confiscate 90% of everyone’s income and have less government money than only take 15% with higher government revenues, because the latter would leave 85% of the income in private hands. 

The same goes for the Estate Tax.  They welcome any chance to reduce the amount of wealth in private ownership and couldn’t care less if it costs the government two dollars for every dollar they can confiscate from private owners.  Communism has never been a logical system, nor can it ever be, even in the hands of our supposed messiah, Barrack Hussein Obama, and his gang of Fellow Travelers.

 

From Blog Pix

 

 

Posted in Commies, DeathTax, Estates | Comments Off on It’s not about the money…

Posted by taxguru on July 20, 2012

Don’t Die in 2013: Confiscatory 55% Death Tax Set to Take Effect –  The IRS grave-robbing vultures are drooling over this.

 

Posted in DeathTax, Estates | Comments Off on

Posted by taxguru on April 18, 2010

Kill the Death Tax, Once and for All

With the wholesale acceptance and furtherance of the planks of the Communist Manifesto by the DemonRats in power, the chances of them killing this particular plank are slim.

If this article by Deroy Murdock is correct that the only real debate between the Dims and the GOP is the rate and starting point for this evil confiscation of wealth from Americans, what good is the alleged “opposition party?” Marxism-Lite is just as bad as the full blown Marxism our DemonRat rulers are hell-bent on implementing.

Deroy echoes my sentiments for the past three decades, as I have supported the abolition of the current income and estate taxes in this country.

This entire nation would benefit if all of this legal, accounting, and finance talent — plus the resources required to pay them — instead could be devoted to more productive purposes.

I have long said that there would be no shortage of meaningful work for those of us in the accounting profession if taxes were eliminated. Unfortunately, we still have to devote more and more of our time and other resources to assisting clients in protecting their assets from more and more insidious methods of government confiscation.

Posted in Commies, DeathTax | Comments Off on

Posted by taxguru on January 2, 2010

Lack of Estate Tax in 2010: Now Cheaper to Die? – Others are picking up on what I predicted back in 2001; that unless the law is changed, there will be a lot of mysterious deaths in 2010 as some heirs become overly aggressive in their desire to avoid the Death Tax.

 

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Posted by taxguru on December 11, 2009

Life insurers lobby to save the death tax – Another example of “follow the money.” As if the insurance companies don’t already have enough bad press.  They are openly supporting the Marxist grave robbery as a means of making money selling insurance policies to offset those same taxes. 

 

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Posted by taxguru on April 18, 2009

Death Tax Gets a Stay of Execution. Big Government has a partner on estate taxes: Big Insurance. 

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Insurance companies love the death tax…

Posted by taxguru on November 16, 2007

Many people wonder why supposed capitalists, such as Warren Buffett, are fighting so hard against the attempts to repeal the Estate (aka Death, Inheritance) tax. It isn’t just their obvious love of Marxism; but good old fashioned personal greed. Insurance companies, such as those owned by Mr. Buffett, make a fortune by selling policies to cover estate taxes. No more estate taxes would dry that cash cow up in a hurry.

There is some good coverage of this topic on National Review Online:

The Oracle of the Death Tax

Death tax is a lifeline for insurance industry

Thanks to David Freddoso at The Corner for this info.

Posted in comix, DeathTax | Comments Off on Insurance companies love the death tax…