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View Diary: The inmates running the House of Representatives asylum (77 comments)

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  •  Most of these groups (0+ / 0-)

    are backed by individual rich people, as you point out. The Kochs, Scaife, the Coors family, et cetera. You can boycott some of their products, some you can't get away from (the Kochs supply a secondary market that is in everything!). But for the most part, the RightWing machine is funded by hereditary fortunes, many of which date back to the Robber Barons and some go back even farther.
    That's why confiscatory inheritance taxes are such a flashpoint. Dynastic wealth is a hazard that was well known and apparent to the Founders. And for many years, the tax laws limited that wealth formation. Some time in the 1800s, we let that slip and now, look at the mess.
    That's why I support taxing estates over $5 million at at least a 50% rate, if not higher, not out of a hatred for the rich but out of a sense of self preservation for the nation and us non-rich citizens. (I stand with the higher threshold $5 mil rather than $1 mil that many people here call for because land values have gone so crazy that even a small farm in New England or California is assessed at ridiculous prices and $1 million cutoff would mean the end of many small holders who are already struggling to keep it together.)
    There is also the matter of "charitable giving" (actually a misnomer). If a large part of your estate is going to be taken taxes, you have a great incentive to give that money to a cause or causes you believe in. No confiscatory taxes, no reason to donate.

    If I ran this circus, things would be DIFFERENT!

    by CwV on Tue Jan 08, 2013 at 10:30:36 AM PST

    [ Parent ]

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