Posted on 12/04/2017 7:20:02 AM PST by BenLurkin
Sen. Charles Grassley, R-Iowa, hashed over the plan with his home state’s Des Moines Register. Turning to the party’s idea to do away with the estate tax, Mr. Grassley framed the current law as a hindrance to responsible saving.
...
Mr. Grassley and other congressional Republicans have long maintained that even if farmers are not impacted by the tax directly, the planning involved is an additional strain.
“[M]any are forced into spending large sums of their hard-earned dollars on lawyers and accountants to avoid its impact instead of reinvesting in their business,” he told the Register. “This means that while many don’t end up paying the tax, it still has a negative effect on the economy.”
(Excerpt) Read more at post-gazette.com ...
This is kind of like the Lib’s reaction to the “Pence Rule”: They can’t handle the truth.
If he had said “Meth and gay sex” the left would nod sagely and say he was right, we needed a government program to help pay for their meth and gay sex.
At least the money isnt going to waste.
I think this was completely misinterpreted - he was saying that the death tax, which he opposes, takes money that the heirs would have invested and instead dumps it into the funds handed out to be frittered away in welfare programs.
Yo Kyle, compared to your rats on welfare, those not paying for their education loans and others spending our tax money like there is no tomorrow at all levels of government, We deploreables are good investors.
Love it.
The press gave a partial quote of Grassley’s first words to make it sound like he was accusing heirs of spending it on booze etc. it was sort of the distorted Brian Ross treatment of his words.
Those movies are getting expensive. I paid $12.
Verizon charges 3 buck to rent one.
The estate tax kicks in at about $5 million I believe.
If you have $5 million, you’re rich, not middle class.
The reason the middle class doesn’t invest much is because stock prices are probably near a peak and bank returns are a joke.
Hey, you moron. I AM a woman, neither of us booze, or for that matter have vacations and you can take your moralizing ideas and shove them. We STILL NEED TAX CUTS.
There probably should be estate tax carves out for previously inherited land (i.e. family farms) of say up to $10,000/acre and for business machinery used by a family/personal company.
I apologize to Mr. Grassley. I am as bad as the MSM. LOL.
You are correct. They can’t tolerate the inequality stemming from intellect, education and work.
Leftists never have an original idea. They just follow England.
It was the estate tax that destroyed Downton Abby and the other great British estates.
We've turned into a society that has turned the story of the ‘Three Little Pigs’ upside down. Instead of admiring the pig who worked hard and invested his time building a strong house of brick, we now vilify that pig and insist that he let the less industrious pigs live in his house, while he pays for and builds them nicer ones.
Read some of the comments on that site, favoring keeping the estate tax - essentially saying the the money you earn in your life should then ‘go back to the general populace’. If I decide that I want the fruits of my life's work to go to my child after I've ‘moved on’, that should be my basic and inalienable right. If I've paid taxes on my earnings time and time again already - why should it be taxed again after I die? That's actually sick, hateful, and envious of them. I don't go on extravagant vacations (if I take one at all), live generally below my means, and prefer having financial security and having a financial legacy to leave my children than any ‘stuff’ that I could buy. Why should I be punished for that?
“We STILL NEED TAX CUTS.”
Unfortunately, the welfare state has gotten totally out of control. The deficit will be over $600 billion this fiscal year I believe.
The economy of the US needs to get rebuilt. People need to be removed from the rolls as more jobs become available.
Fiscally balanced international trade needs to become the rule.
“You are correct. They can’t tolerate the inequality stemming from intellect, education and work.”
If US citizens were polled on whether or not the Cultural Revolution in China was a bad or good idea, what do you think the outcome would be? I’m afraid that a very significant percentage of Americans would think that confiscating wealth in that manner would be a good thing.
The Cultural Revolution in China is not only over but reversed. Chinese business men (and women) are truly successful at creating wealth, for some, great wealth.
They are Chicaps
I’m nearly 60 years of age.
If I was to build a successful business, I would then be about 10 years before death’s door.
The major benefit to building a successful business would be to provide for my heirs.
When the government would levy an estate tax on potential late starters it discourages them.
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