I think it is obvious to all, that this recently passed tax bill is nothing more than a giant giveaway to the top ten percent, that the lower ninety percent will be paying for.
I could go on, item by item just how bad this law is. Being that as it may, I will address only one aspect of this sham tax bill, the "Inheritance Tax."The GOP in their marketing wisdom have labeled this the "Death Tax." As if one must pay a tax before they can die.
As ridiculous as that sounds, I know there are far too many that believe this is true. In actuality, the tax is paid by the deceased's heirs, and then only if the estate exceeds ten million dollars.
Further, the tax is only paid on monies past $10 million. Below that threshold is tax free. Now the new tax bill has raised that threshold to $20 million.
I know a few of my friends who have done very well and I would consider wealthy. None would even come close to that 10 or even 20 million dollar threshold. I would be willing to bet that no one reading this paper would reach this threshold.
You may ask, what is the purpose of this tax giveaway to heirs of the super rich? The super rich will say that the government is stealing the money from those that worked hard for it.
Oh really. These heirs of the super rich are just winners in the "gene pool lottery." They didn't work for this windfall. The truth is, they are running the "100 meter dash of life" starting at the 99 meter line while the rest of us are in the starting blocks.
This tax break for the super rich only helps create an oligarchy that our founding fathers fought against. It is, to it's core, undemocratic.
Roy Bellante, Cheshire