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.
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.
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!
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.
Teddy Roosevelt was among the worst presidents in history. When cousin FDR passed it was a good day for America.
You can find Roosevelt urging Congress to adopt both a graduated inheritance tax and a graduated income tax in his December 3, 1906 Message to Congress, but it's clear that the inheritance tax was closer to his heart than the income tax. It's a moot point now. The federal government has grown to the point where it can't rely on just an inheritance tax, however heavy and however steep the rates, but was he wrong about preferring corporate and estate taxes to taxes on income?
One reason why he wanted more taxes was that empire and war were on his mind:
It must ever be kept in mind that war is not merely justifiable, but imperative, upon honorable men, upon an honorable nation, where peace can only be obtained by the sacrifice of conscientious conviction or of national welfare. Peace is normally a great good, and normally it coincides with righteousness; but it is righteousness and not peace which should bind the conscience of a nation as it should bind the conscience of an individual; and neither a nation nor an individual can surrender conscience to another's keeping. Neither can a nation, which is an entity, and which does not die as individuals die, refrain from taking thought for the interest of the generations that are to come, no less than for the interest of the generation of to-day; and no public men have a right, whether from shortsightedness, from selfish indifference, or from sentimentality, to sacrifice national interests which are vital in character. A just war is in the long run far better for a nation's soul than the most prosperous peace obtained by acquiescence in wrong or injustice. Moreover, tho it is criminal for a nation not to prepare for war, so that it may escape the dreadful consequences of being defeated in war, yet it must always be remembered that even to be defeated in war may be far better than not to have fought at all. As has been well and finely said, a beaten nation is not necessarily a disgraced nation; but the nation or man is disgraced if the obligation to defend right is shirked.
Another may have been his fear of revolution if popular discontent wasn't appeased:
The reactionary or ultraconservative apologists for the misuse of wealth assail the effort to secure such control as a step toward socialism. As a matter of fact it is these reactionaries and ultraconservatives who are themselves most potent in increasing socialistic feeling. One of the most efficient methods of averting the consequences of a dangerous agitation, which is 80 per cent wrong, is to remedy the 20 per cent of evil as to which the agitation is well rounded.
P.S. Letter from Kenya. Suspicious?
And he’s been paying for that decision ever since.
What do you expect? Teddy was a big government progressive.
TR was also an Imperialist...we should embrace that too?
bkmk