Wednesday, September 15, 2010

It's all about Big Money

If anyone doubts that the rich control the United States they should consider the fate of the Estate Tax. With everyone looking to cut the deficit and find new sources of revenue, I find it amazing that the country can't get behind a reasonable estate tax. To me the ideal tax would be paid by people with the means to pay it that couldn't complain in any manner. This is the description of rich dead people. The argument talks about a "DEATH TAX" in such a manner that makes poor people think they are going to have to pay it. While there is a need to revise Section 6166 that allows illiquid business owners and farmers estates time to pay the tax, this tax could be a great revenue source. The 2009 tax wasn't paid by anyone with an estate of less than 3.5 million, the 2011 tax will be paid by estates of over 1 million because our politicians are afraid to raise any taxes. The tax could always be easily avoided by giving the estate to charities. Elimination of this tax will only benefit the heirs of the deceased who haven't earned the money and don't deserve it. We don't need more Paris Hiltons in this world.

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