After Donald Trump announced his new tax plan, Hillary ripped him for saying certain aspects of his plan would only benefit people such as himself, meaning the extremely wealthy. But, that was not the whole truth.
So, when Hillary’s tax plan was announced, including a 65 percent top rate for estate tax, people like myself started asking a LOT of questions, via The Wall Street Journal.
What Hillary and her cronies won’t tell us, nor will the mainstream media, is that while this new plan is disguised as a way to punish the rich, it is also going to dramatically impact regular families, especially those that have businesses that are handed down over the generations.
As we all feared, Hillary has taken on some of Bernie’s platform stances to make him toe the line and keep his mouth shut over the rigged primary.
Hillary initially had a top rate of 45 percent, but she has now added three more levels for her new buddy Bernie.
The new tax brackets for estate tax are: 50 percent for estates over $10 million, 55 percent for estates over $50 million, and 65 percent for estates over $500 million ($1 billion for couples).
When Sanders came up with this proposal, he stated it would tax the “grotesque level of wealth,” but he surely did not think it through.
What happens to the family business that gets willed down to the sons and daughters of the owner that happens to be over $10 million?
It is not very hard for any business with assets to have that kind of value.
When you add up the building, fleet, inventory, etc… you would be surprised at how many “struggling” business owners are going to be hit by this proposal.
I am not the only one seeing this, as Rep. Kevin Brady (and yes, he is from the great state of Texas) stated, “It will stop family owned businesses – including women and minority-owned businesses – from being passed down to their children and grandchildren.”
Once again, Hillary is using an attack on the rich to pander for the poor vote.
She promises to take money from all those horrible rich business owners, in this case by taking more than half of the estate, so she can add the money to the freebie till.
Not only is it not fair, it also robs the incentive from everyone to become successful.
If the government is going to take 65 percent of everything you own, what is the point in creating that wealth?
This liberal mindset has to be kicked out of Washington while we still have time.
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