Posted on 09/30/2017 8:04:42 AM PDT by ProgressingAmerica
Ping..............
Bullshit then...Bullshit now!
Teddy’s Bull Moose Party was the progressive party.
Inheritance taxes are inherently immoral. There should be none. Not at any level of government.
Over a twenty-year period...with the Teddy-period, and the eight years that followed Taft....this is all a progressive-period in US history, and it should leave you with no doubt why 1920 was the start-up of the ‘roaring twenties’.
Inheritance taxes are inherently immoral. There should be none. Not at any level of government.
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Absolutely!
Ben Franklin also expressed concerns about the wealth being concentrated in the hands of a few
At least TR switched parties rather than try and corrupt the Republican party unlike some rotten Senators we all know.
The first Roosevelt was courageous but not conservative.
No, TR ran as a Bull Mooser after he won all of the then Republican presidential primaries of 1912 (I believe there were six.) and still lost the nomination to Taft. Taft had no chance anyway; the American people wanted The Woodrow.
Well he’s dead so it don’t mean a thing what he liked or didn’t like. That was then, this is now and I hope “now” wins out and gets rid of that tax!
I the rich think that raising the tax on the wealthy is a good thing, seeing that they are talking about earned income subject to all the loopholes they use. I have a better ides for them. How about an annual tax on net worth from those above say five million.
Some on FR swear they’re the greatest thing since slice bread.
Theodore Roosevelt was a Progressive.
But this is bigger IMHO. Everybody on our side is pissing and moaning how bad the tax bill is. So I will put on my Nomex underwear and tell what I see cause and effect.
* Death Tax elimination keeps family businesses intact without a plethora of Attorneys and other parasites sucking the cream off the top from what should be a natural transfer of an asset.
* The 20 & 25% new tax rates on business should be the same, but it is a start, perhaps it will become the same percentage.
* The repatriation of Capital brings capital where it belongs IMHO so business can do things, and that is here.
* 100% expensing for 5 yrs, should be permanent, but might set a precedent.
* The new 20%/25% business tax rate, the 100% expensing up front, and the Capital back get rid of the parasitic drag of accountants and attorneys on business, they can concentrate on product and making money, not lobbyist, my sweet heart deal, and paying all those professionals.
* We go to 3 rates. If I remember correct TEFRA in 1986 with Reagan had us at 2 rates before Darmon-Sununnu-Bush-Mitchell FUBAR'd that. I have been saying for eons here, PDJT is a reset to 1988, this is almost Reagan's bill by eliminating all the time consuming unproductive crap in the Tax Code. Again focus on making money, Nuke the Tax code enough so we don't worry about it.
* The State Tax deduction elimination? Again, The Art of the Deal, it will be surrendered when the Blue States that have all the Sanctuary Cities give them up to keep their tax break, end of story.
Tell me were the heck I am wrong here, again Perfect is the enemy of the good and getting anything done. I'll take this bill, and my guess is my brilliant CPA gnome who I haven't spoken too yet will as well as they can concentrate and change their practice to help businesses make money, not play the tax game...
And he would have never been able to have the life style he lived without his inheritance.
I agree, but dear old departed dad (a FDR disciple) would argue that confiscatory estate and income taxes helped curtail the development of an "elite" class of American citizens and helped to minimize income inequality which he felt led to civil strife. Of course his thought process developed during the depression and while attached to the British army in India during part of WW2. The poverty in in what is now Bangladesh shook his values.
Without a death tax you end up with a hereditary elite; even if you just consider it an income tax on the recipients, I have no issue with preventing that system from forming.
Not only are they immoral they're economically dumb. Under dynamic analysis they actually provide a net loss to government at all levels. Of course congress is too stupid to use dynamic analysis.
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