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.
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| From Blog Pix |
Tax Guru - Ker$tetter Letter 