This page was last updated on December 16, 2010.
First step; Editorial; Beaver County Times; December 14, 2010.
Is it a coincidence both this editorial and today’s letter “Sanders protects working Americans” refer to “the super-rich?”
The editorial said, “[T]he super-rich won’t want to see the tax exemption for estates up to $5 million expire.” This continues the leftist idea the death tax hits only “the super-rich” as if that would make it OK. In fact, the left ignores the fact many small businesses (farms are one example) are building, equipment, and/or land “rich” but cash “poor.” In those cases, heirs must sell part or all of the business to pay the death tax and what used to be a family business may cease to exist.
If you wonder why the left is so dead set in favor of the death tax, I believe there are two major reasons. First, I believe envy is a contributor for many. Second, I believe the true believers of leftism know individual ownership of private property is a threat to government’s power. Private property ownership is a threat to government power because the more a person owns, the less he requires government for his livelihood and the less control government has over the individual.
The editorial said, “Sure, everybody is in favor of eliminating the benefits that others derive from the tax code, but they will fight ferociously to preserve theirs.” I guess I’m not “everybody.” I’m all for a flat tax with absolutely no deductions, double taxation, exemptions, et cetera. I’d also get rid of the income tax on businesses because it’s just a backdoor to mess with taxes on individuals. Actually, the ideal would be to replace all federal taxes with a retail sales tax (not a valued-added tax) via an amendment to the Constitution. This would greatly reduce tax-collecting overhead and would keep Congress and the President from adding taxes when they felt like it.
The editorial said, “If Obama didn’t cut this deal, … workers would have seen smaller paychecks.” How can this be? Haven’t we been told for at least the last seven years the Bush-era tax RATE cuts were tax cuts for “the rich,” millionaires, billionaires, et cetera? Now, however, President Obama concedes not extending the rates would result in an average tax increase of $3,000 per family.
© 2004-2010 Robert W. Cox, all rights reserved.