Thoughts On The ‘Estate Tax’
The estate tax is, without a doubt, one of the most insidious means of government confiscation and forced redistribution of our citizen’s private wealth. The estate tax — also derisively called the “death tax” — robs citizens of nearly 50 percent of their earned wealth at the time of their death.
Princella Smith of American Solutions posted a blog entry that sums up the problem with the estate tax and the need for a tripartisan solution to this threat to citizen prosperity in the 21st century. Essentially, the estate tax is a tax upon productivity and wealth creation — what Luther Cain Jr. called “sweat equity.”
When Cain’s dad, Luther, passed away in 1982, his net worth was $982,000, and Cain said to his dad that when you “round that figure up”, he’d reached his dream.
Notably, Cain pointed out that when his father died in 1982, the money was left to take care of his mother who had MS for 23 yrs.
Says Cain: “That’s what you should be able to do with your sweat equity. Not give it to the government. It belongs to you. That is the American dream.
That’s why we’re here. That’s why we fight in order to keep this country from going down the wrong track.
Given that we’ve witnessed the stunning fall of America’s financial elite this past week, with the stock markets undergoing their worst week since the Great Depression, shouldn’t we work toward rewarding citizens and promoting that earned “sweat equity” for a brighter financial future?
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