Sunday, June 13, 2004

Midwestern Blues, Part 2

A little bit more on a similar technique by Jesse Taylor at Pandagon. He decries the repeal of the estate tax by using the image of hard-working Midwestern farmers losing the family farm to garner sympathy when the law is really designed to protect the future assets of the heirs of the super-rich. The whole estate tax repeal will not benefit the family that Paris Hilton stayed with on "The Simple LIfe" last summer, but Paris Hilton.

What was the limit on the estate tax? $1.5 million? Any assests above that were taxed at a higher rate, right? Hell, I think you could have doubled or tripled that amount and made the cut off $3 million or $5 million without substantially affecting the rest of the tax code and you still would have a steady stream of tax revenue. But no, it's the baby with the bathwater, all or nothing. If you don't watch out for the trust fund kids who will look out for them.

Actually, I think the trust fund kids had nothing to worry about. If you've taken a significant portion of your money and put it in trusts for your children, then those are in their names, right? Those can't be taxed after your death because they aren't your assets.

What is the deal, then? Do all of these Republicans have necromancers on retainer? Do they plan on returning from the dead and want to make sure they'll still have some spending money for when they get back? Sheesh.

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