Know This About Republicans, America

The Republican Party, every member of Congress in the Republican Party, voted against the COVID Relief Plan to help America and Americans just now during this, the most deadly international pandemic in the last more than 100 years. Do you know what they ARE working on and for just now, presently? They have the chutzpah to be working to pass a repeal of the estate tax. It would only benefit the top .1% of the already-wealthiest Americans.

Seriously.From an article at Truthout today: The legislation was unveiled on Tuesday by Senators John Kennedy (R-Louisiana) and John Thune (R-South Dakota) and has been co-sponsored by 24 other Republican senators, or about half of all Senate Republicans, including Minority Leader Mitch McConnell (R-Kentucky), according to a Kennedy press release. Rep. Jason Smith (R-Missouri) has also introduced similar legislation in the House. The federal estate tax’s current top rate is 40 percent, but thanks to exemptions that grow every year, an estate in 2021 would have to be worth $11.7 million for individuals and $23.4 million for married couples before the estate tax kicks in. The exemption was previously around $5 million but was doubled by then-President Donald Trump in 2018. Because the threshold is so high, an estimated less than 0.1 percent of estate tax returns will pay the federal estate tax for 2020. In other words, Republicans are fighting for a repeal of a tax for the richest 0.1 percent of dead people. These people, these Republicans are not for you and me, America. Well, they aren't for you and me unless you're already wealthy, anyway. And they're blatant about it, too.

The American Economy: How We Got To Here

What Americans need to know about our nation and economy, from an economist.

Quote of the day--on the income tax

"The hardest thing in the world to understand is the income tax."  --Albert Einstein

Think we don't need an estate tax ("death tax")?

Look at these five estates above, from this past calendar year, and tell me, Mr. and Mrs. America, we don't need an estate tax on the wealthiest of us.

While you're at it, look, too, at the amount of tax revenue we lost by not applying it to these estates.

Mind you, I'm not saying grow government at all costs and I'm not an advocate of ever-larger government agencies. Not at all.  

All I'm saying here is that we have costs and debts associated with running this country and that's why we have taxes.

I find it difficult to believe these estates and the people they will now go to would be hurt substantially by having paid these taxes.

If you're not for an estate tax on the wealthiest of Americans, I hope it's because you're one of them.

Otherwise, I question your connection to reality.

And I say that with seriousness, gravity and respect.

Link to original post:  http://www.businessinsider.com/now-get-ready-for-the-lame-duck-congress-to-kick-the-can-on-all-the-hard-deficit-choices-2010-11