Saturday, June 10, 2006

Its Official: What is Yours is Theirs

So much for family values

The US senate is trying to make the inheritence tax permanent. In other words the government is trying to make it official policy that your family's money belongs to the State and not to your family. With tax breaks for having children and funding for government schools I guess its ok to have a family and build up a family's wealth and secure their future, but only if you do it on the State's terms. This is, do i need to spell it out, hypocrisy.

First off. Taxing inheritence is double (or triple) taxation. The parents have already paid income tax on the income derived from their savings. And if it is from stock dividends (more than 50% of americans own stock - it is truly as Marx predicted - a society where everyone owns the means of production), companies and people have already paid tax on it twice, inheritence tax makes a third time. It's disgusting. It's taking advantage of the ill-informed.

Alot of American economic growth, and thus the engine that keeps us fat and happy, or at least keeps our poor alot richer than alot of the world's poor, is from America's thriving entrepreneurial spirit and our small business. It is small business and people putting forth their individual efforts and seeing the results of these efforts personally that keep us engaged and productive, peaceful (at least domestically) and constructive.

When you have a government that wants to tax away these businesses (many times the family businesses must be sold to pay the inheritence taxes) it shows a political class who are, if not down right evil, at least very stupid and unaware of our American character. Get a life Senate.