Government

This is Bernie Sanders philosophy 

Let’s say you are age 65 with four grown children. You have worked, saved and invested all your life. You were prudent in protecting your family and have a good amount of life insurance. Your home of thirty years is paid off and, of course, has risen in value. All your life you diligently paid your taxes including gains on investments.

Your net worth is $4 million dollars which includes your home value, life insurance, your car and personal possessions, your 401(k) plan which is the source of your retirement income and your savings. You have never lived like a millionaire and don’t act like it and don’t feel wealthy, but according to some politicians you are virtually a greedy billionaire.

Bernie Sanders, introduced legislation that would require anyone who inherits more than $3.5 million to pay an estate tax.

He would also increase tax rates so anyone who inherits an estate or assets worth between $3.5 million and $10 million faces a 45 percent tax rate; anyone who inherits an estate worth between $10 million and $50 million faces a 50 percent tax rate, and anyone who inherits an estate worth more than $50 million faces a 55 percent tax rate.

Based on the above example, the 65-year-old with $4 million instead of leaving the estate to his children, must pay $225,000 in federal estate taxes (plus any state taxes).

How is this fair?  Why should government confiscate any portion of your life savings? But this is the way Bernie Sanders and the far left think.

And don’t be fooled, to support a welfare state, $3.5 million is the starting point. Redistribution of what you earned and saved for you and your family is coming at you.

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5 replies »

  1. Enough already, Quinn. We all know that you are so far right that you are always wrong. Riech-Wing trickle down economics has never worked and never will. Give it up and face reality.

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    • Oh Wilson. While I welcome your comments as misguided as they may be, why is it so difficult to address the issue at hand? The post has nothing to do with your comment. Do you think the estate tax is fair and should take even more of an individual’s life’s savings as proposed by Sanders? Tell us how much of any persons income or assets government should take and give to others.

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      • Tell us how much longer the wealthy 1% will be allowed by your idols to beat down the rest of our citizens into servitude, poverty and destitution while hiding their wealth offshore and paying no taxes? Tell us that you agree that the Koch Brothers should be allowed to buy our congress and presidency. Tell us that you support many state’s legislation that suppresses the voting rights of minorities that may vote Democratic. Deny that Teapublikkkans oppose immigration reform because those immigrants may vote Democratic. The ideology of the Teapublikkkans contradicts the will of the American people on issues too numerous to list. The United States and the rest of the civilized world believes in a liberal and progressive world of life values that you and white supremacists cannot stand to acknowledge. Your ideology is fading into oblivion. Live with it.

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      • You are so typical of the far left; you never address the issue and at the same time throw out populist rhetoric with no idea what it means. Why not just answer my question? Then tell me exactly how the 1% beat down others and remove opportunity for the rest of us. Finally, tell me how those with money influence politics without the compliance and complacency of the individual politicians who accept their money and other promises and who the masses elect and repeatedly re-elect.

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