“As it exists now, trusts pay income tax on any undistributed income, and the recipients of distributed income pay tax.”
Are they using that income to build the economy, or to support themselves in a high style while they tear it down for the rest of us? Think of all the heirs and heiresses spouting leftist platitudes so they can get invited to Hollywood cocktail parties. A lot of people who have fabulous wealth they did not earn are using it to make my life miserable, and I resent it.
Look, we are going to have to negotiate with them, otherwise we go over the cliff and the negative consequences, real or imagined, will be blamed on us. Unless you can show me that going after trust funds will hurt the GOP more than the dems, then I say throw that out there and let their trust fund babies squeal.
It depends. Be careful before you cap wealth. What would you think if you had some enterprise of yours come through, and politicians decided to cap what you could give to your family after you were gone? Even if your family turned out to be liberal jerks? Who makes the decision?