Monday, June 05, 2006
Polytx/the "Death Tax."
The true name for a tax on your wealth, at death, is THE ESTATE TAX, and it was formulated and passed during the Roosevelt Administration during the depression, by FDR himself, a man of inherited wealth. It was passed to inhibit people like the JP Morgans, the Rockefellers, and now the Murdochs and Buffets, the Kennedys and Bushes, and the Gates of this world to keep the obscenely rich from creating dynasties. The Kennedys are a good example, where senior Kennedy was able to buy Jack's entry into the American presidency, and now the elder Bush was able to pass on his kingship to young GW.
Perhaps 97% of the U.S. population will never have to worry about the Estate Tax because the
tax, according to C-Span and the Philadelphia INQUIRER as of June 5, 2006, doesn't kick in until the estate is worth two-million dollars, and underpresent law is predicted to rise to $3,000,000.
Few of us who have spent our money buying Hondas and Toyotas to save gas, and putting our children through college without saving much will ever have to worry about the moniker, "death tax," placed on the measure by wealthy people to make it seem like "our" tax.
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Perhaps 97% of the U.S. population will never have to worry about the Estate Tax because the
tax, according to C-Span and the Philadelphia INQUIRER as of June 5, 2006, doesn't kick in until the estate is worth two-million dollars, and underpresent law is predicted to rise to $3,000,000.
Few of us who have spent our money buying Hondas and Toyotas to save gas, and putting our children through college without saving much will ever have to worry about the moniker, "death tax," placed on the measure by wealthy people to make it seem like "our" tax.
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