Tag: Taxation

Da Noive of Dese Ultras. Da Gall!

 

23F23B5C-F8E4-4B3E-839E-56294D12C65A_mw1024_mh1024_sProponents of the death tax would be less likely to insist the state raid a dead man’s wealth if they were required to attend the funeral, crowbar open the coffin, and pull the rings off the corpse. Some would. Sorry about that cracking sound, but it’s all for the greater good. But most are content to have unseen agents of the state perform the task.

I’m glad these people want the death tax, because it shows them for who they are: statists who believe the government has a right to your purse the second you lack the strength to hold it. But now and then someone really gives the game away, and that brings us to James Kwak. Writing in Medium today about the mythical family farm threatened by estate taxes, he says:

The mainstream argument for repealing the estate tax is that a “small” family-owned business — say, one worth “only” $20 million —would have to be sold or liquidated to pay the estate tax. At a 40% rate, the tax on such a business would be about $4.5 million. It’s theoretically possible, though not particularly plausible, that an estate including such a business might not have $4.5 million in additional assets to pay the tax, and not be able to borrow $4.5 million against the value of the business, and not be able to sell a $4.5 million stake to other family members.

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In Father Robert Barron’s popular reflection on Lent, he refers to St Thomas Aquinas in proposing that everything we possess is given to us by God so that we may give it to others. It is true that we are called to share all that God gives us. Sometimes that involves inviting others to join […]

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Member Post

 

You can tell there’s a Democrat in the White House, because now it’s OK for the administration to question Americans’ patriotism. Decrying an “abuse of our tax system”, Treasury Secretary Jack Lew wrote to Congress last month: “What we need as a nation is a new sense of economic patriotism, where we all rise or […]

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http://taxfoundation.org/blog/americans-pay-more-taxes-food-clothing-and-housing-combined/?utm_source=facebook&utm_medium=learnliberty&utm_content=Wow.&utm_campaign=learnliberty+CS Our annual Tax Freedom Day report finds that the nation’s Tax Freedom Day will come on April 21st this year, which is three days later than last year. The calendar measure represents how long Americans as a whole need to work in order to pay the nation’s tax burden. Preview Open

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