This video covers one of three tax types we need to re-focus as explained in: “Re-focus Tax Policy” (which in turn is part of my “9 Point Agenda For Counter Revolution“)
More information on the “9 Point agenda for Counter-Revolution”
Related Topics: Abolish Aristocracies
I have been accused of hating rich people. if you have seen some of my other videos, especially “Aristocracies Are Anti-American” and “Counter-Revolution – A Nine Point Agenda for Change” you may understand why. I do not hate people, rich or otherwise. I do hate aristocracies. Although I do not hate their members. And I hate a society which permits people to possess unearned privileges through membership in aristocracies. I actually believe in true meritocracy. I love a society in which all humans have freedom and opportunity to strive for wealth and power if they so choose. Or to strive for creativity. Or to strive for meaningfulness and significance in their lives. And certainly to strive for love. And I believe that the only way we can move toward such a society is through the engine of freedom and equal opportunity: the supercharger of civilization; which is the expansion of human rights. More human rights for more human beings. Any human being who strives for wealth and/or power, and plays by the rules. Obeys the laws and pays the taxes. Should be permitted to do what he or she wants with that wealth, within the law. It is incumbent upon us who constitute the society to write and enforce laws, including tax policy, which restrain those individuals who possess wealth and power from behaving in ways detrimental to society. And one of the things most detrimental to society is aristocracy. We need laws which prevent aristocracies from occurring. Aristocracies are created when individual human beings receive unearned wealth and/or power. The unearned wealth and/or power bestows upon members of the aristocracy certain unearned privileges which exceed the basic rights enjoyed by all human beings within the society. Those privileges, because they are unearned, constitute an evil to society. The most common form of aristocracy and thus unearned privileges is the transfer of wealth from generation to generation by wealthy families. Recipients of that unearned wealth possess privileges which destroy the society's equality of freedom and opportunity. It is for this reason that I propose we re-focus our tax laws to abolish aristocracies. We can accomplish this in part by re-invigorating the Anti-Aristocracy Tax. Now you may not think you have ever heard of the anti-aristocracy tax. But that is probably because you know it by a different name. Corrupt politicians, owned by aristocracies, since Ronnie Rodeo have referred to it as the "death tax”. It's official name is the Estate and Gift and Generation-Skipping Transfer Tax. This tax only applies to very wealthy families. The Estate Tax is designed to limit the of wealth that can be transferred to beneficiaries upon the death of a rich person. The Gift Tax is designed for prevent rich people from giving great wealth to their beneficiaries before they die in order to avoid the Estate Tax. And the generation-skipping transfer tax prevents families who attempt to avoid a taxable event by transferring wealth to grandchildren instead of children. Before Ronnie Rodeo, estates of $150,000 or higher were potentially subject to this tax. And although estates that small paid a much lower rate, the maximum rate for very large estates was 70%. At that time there were many loopholes that could be used avoid or reduce taxes. This tax certainly did not prevent aristocracies, but it slowed their growth rate. Today the tax doesn't apply unless the estate is over 5 1/2 million dollars, 11 million for a married couple. The maximum rate is only 40%. But few estates pay that. Loopholes have proliferated, and lawyers and lobbyists are making new ones all the time. Such a weak tax barely slows aristocracies down. And yet the Rapepublican Party platform consistently advocates complete abolition of this tax. We don't need to abolish the tax. We need to abolish the aristocracies. I propose that we lower the exclusion to $1 million for a single individual, two million for a married couple. For the next million after that the rate will be 20%. With the rate increasing steadily through several brackets until at $500 million the rate is 99%. No one should ever be able to pass on more than half a billion dollars to beneficiaries who did not earn it. And of course we need to close down all loopholes, trusts, and other legal shenanigans designed avoid this tax. The only exemption I would allow would be for contributions to legitimate charities. Aristocracies are un-American, anti-Democratic, and, at this point in history, if they are allowed to continue, they have the potential to lead to total destruction. I do not hate human beings. Wealthy or otherwise. I do hate institutions which are destructive of human rights. And among those i hate most are aristocracies. A key element of Radically Reversing Ronnie Rodeo's Reactionary Rapepublican Revolution must be to Abolish Aristocracies And a major weapon to that purpose can be the Anti-Aristocracy Tax