Estate Taxes; a tax on our families

The reason some people don’t like to pay taxes has nothing to do with greed. It’s principle. They don’t like the government stealing the Citizens money and giving the money out to the largest campaign contributors, friends or family. Many call our system crony capitalism for a reason.

With 1 in 5 working people working for the government, not including the plethora of government contractors, do you recognize the economic problem? This ratio mathematically is not physically or economically sustainable and why both publically and privately we have amassed more debt then we can afford to pay back. Hense the number of bankruptcies and foreclosures over the last 25 years.

Additionally, arguing over inheritance taxes at this point is financially meaningless. It’s too easy for the super wealthy, whom I think some are referring to, to do a plethora of things to protect their assets. i.e. a Living Trust. Simply by placing all your assets in a trust, as the Walton (Wallmart) family did, the successor Trustee became the new manager, upon the father’s death, All the assets remained in trust and thus no taxable event occurred. Whereas with Joe Robbie, the former owner of the Miami Dolphins died, the estate taxes were so high, his children had to sell the team and stadium in order to pay the taxes due because they did not place all the asset in Trust for estate planning purposes. Even though the children had spent years helping their father run the business, they literally lost it all to inheritance taxation. Whereas, the Rockefellas reportedly have over 100 Trusts and have had them for decades for a reason and they have maintained their wealth over generations.

So, why not close up the Trust laws so at least some inheritance taxes are paid? Now here’s the part I want everyone to pay attention to carefully. Because the target of this type tax would simply do something else, to get around it. They’ll sell and move if necessary. Why do you think so many of the multinational corporations have moved their holding companies to Panama? Could it be because of the tax-exempt status? Additionally, you’re not going to beat the super wealthy at the political game they dominate and this is a historical truth going back well over 3,000 years.

Democracy you say. You can’t even get the typical voters to read a legislative bill, much less understand all the complexities. The average voter has no idea what is and isn’t being passed because it is so complex and manipulated by the wealthy. Add in all the faux commentary and we have America with the majority getting screwed as history has shown throughout the ages. Have you ever tried reading a Supreme Court decision in a tax case?

It called going Gult in the book Atlas Shrugged. It’s when the wealthy sell off all their assets, shut down their businesses and move somewhere else, where nobody wants to steal so much their money. That’s one of the reasons so many factories have shut down; 42,000 in just the last 15 years and much more before that.

I did not become a libertarian because I haven’t done my homework or looked at our society realistically. The only way to fight city hall is to either abolish it through a tax rebellion or wait until it collapses, as they all do, under their own corruption and economic failure. The latter is obviously the much more realistic, but it is also the much more undesirable and why libertarians embrace less government, hoping enough people will see the light before it goes dark, and it can, as history shows, really get dark.

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