Birth tax
Some time ago, neocon leadership started calling the estate tax a "death tax" to hide the real meaning and motivation for having an estate tax. That is, when the mega-rich pass on previously untaxed money to the next generation, the estate tax is the only thing that could possibly have them pay their share, like the rest of us do with every paycheck. It does not effect the mildly rich, farms or family businesses, as some pundits say or imply.
Well, rather than try to deceive, liberals are better at educating. We all know that the national debt and deficit spending are bad things. But what does it really mean? What is the consequence of dubya inheriting a surplus budget that could have been used to eliminate the debt, but instead creating record-setting deficit budgets?One illustration is the fact that the present deficit is greater than all the deficits combined from the founding of the United States through Ronald Reagan's term.
The catchy, but accurate, answer is that dubyanomics creates a "birth tax". If a child is born in the United States, thanks to massive Republican overspending since 1981, that baby owes a lot of money. The kindest estimates have this number over $25,000. The cumulative real-world effect may be over $100,000. That is money that they will either have to somehow pay, or pass it on to their children. That's the future that dubyanomics is creating for us.mars.walagata.com/w/gwbushisstupid/BirthTaxDeathTax.jpg
www.thefreespeechzone.net/images/birthtax_nofinger_11x14.jpg
(political cartoon credit to Tom Toles and Ben Sargent)
posted by zblog at
12:40 PM
1 Comments:
The Democrats had won a small battle by getting the Republican-controlled Senate to at least consider raising the minimum wage for the first time since the GOP took over. At $5.15/hr, adjusted for inflation, this is the lowest minimum wage the country has seen since 1955. All the economic advances of the past 50 years continue to be denied to the real working class, thanks to the selfish GOP catering to their mega-rich campaign donors and controllers.
Well, that battle victory was not enough. The Republicans refused to consider the minimum wage increase on its own merits, and re-wrote the bill to include the biggest tax break to the ultra-rich ever - near abolition of the estate tax.
I am proud to say that the politicians that I support did not compromise their integrity and allow this Frankenstein of a bill to pass. However it is most sad that GOP actions have resulted in yet another blow to the working class, as the minimum wage increase was killed.
The working class, however, will have a chance this November to right this wrong. Get the GOP out of the House and Senate. Return the reigns of legislative control to all of: representatives of the people, the ultra-rich and corporations. End our current monopoly of control by the ultra-rich.
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zblog, at 9:07 AM
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