Except it’s not the bankers of the 1980s (the origins of which could be a series of posts on its own)… it’s the GOVERNMENT that’s going to be taking lands and homes away.
Rancher Kevin Kester works dawn to dusk, drives a 12-year-old pick-up truck and earns less than a typical bureaucrat in Washington D.C., yet the federal government considers him rich enough to pay the estate tax — also known as the “death tax.”
And with that tax set to soar at the beginning of 2013 without some kind of intervention from Congress, farmers and ranchers like Kester are waiting anxiously.
“There is no way financially my kids can pay what the IRS is going to demand from them nine months after death and keep this ranch intact for their generation and future generations,” said Kester, of the Bear Valley Ranch in Central California.
Two decades ago, Kester paid the IRS $2 million when he inherited a 22,000-acre cattle ranch from his grandfather. Come January, the tax burden on his children will be more than $13 million.
For supporters of a high estate tax, which is imposed on somebody’s estate after death, Kester is the kind of person they rarely mention. He doesn’t own a mansion. He’s not the CEO of a multi-national. But because of his line of work, he owns a lot of property that would be subject to a lot of tax.
“Our number one goal is to repeal the estate tax, to get rid of it, not have it for every generation, when I die and my kids die and so on,” he told Fox News. “For everyone to have to re-purchase the ranch or farm over and over for each generation, that’s inherently unjust. So what we’re doing is asking our politicians to understand that and repeal the estate tax.”
Not going to happen, Kevin. Your land is going away. This is part of the plan to equalize wealth by destroying you. It is unfair that you worked hard and earned something.
From a couple paragraphs later:
“The idea behind the estate tax is to prevent the very wealthy among us from accumulating vast fortunes that they can pass along to the next generation,” said Patrick Lester, director of Federal Fiscal Policy with the progressive think tank — OMB Watch.
Many Democrats argue the tax promotes equality among classes, especially in capital gains — or stocks passed from one generation to another. Since stocks are only taxed when they are sold, the government can’t profit from long-term investments without the estate tax.
“Very large portions of very wealthy estates are tied up in stocks and they have never been taxed,” said Lester. “The estate tax is one of the ways we make sure the wealthy pay a little bit more as an overall share of their wealth and income compared to low-income individuals.”
For those unfamiliar with how this idea works, I go to the first three planks of the Communist Manifesto by Karl Marx:
1. Abolition of property in land and application of all rents of land to public purposes.2. A heavy progressive or graduated income tax.3. Abolition of all rights of inheritance.
That’s what the Death Tax/Estate Tax is. It’s the most critical part of communism – destroying wealth and destroying Jefferson’s ideal American, the yeoman farmer. This is just calling for the liquidation of the kulaks.
Worth noting is who imported this communist drivel:
The estate tax dates back to 1916 when then-President Woodrow Wilson imposed the tax of 1 to 10 percent on the wealthy because World War I reduced federal government revenues. Under Franklin Delano Roosevelt, the tax rose to 77 percent, as Congress tried to prevent wealth from becoming concentrated among a few powerful and super-rich families.
One used it to fund a war we didn’t belong in, the other to crush prosperous American citizens… in order to defend the existing rich from the new rich. The Ruling Class kept the Country Class down, using the best tools of oppression – communist ideas.