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Time to inflict the maximum amount of political pain on the Republicans as humanly possible. Here's my proposal. The Republicans claim they want to "pay for" the Unemployment Insurance extension.

OK.

Let's pay for it by increasing the estate tax. The tax, if you recall, that falls on estates before they are transferred to the inheritors who did nothing but exist to justify receiving that wealth.

The cost of extending Unemployment Insurance is a measly $6.4 billion over the next decade.

The estate tax repeal was projected to cost the US Government at least $1 trillion dollars for the next decade. That's $100 billion a year.

Increasing the estate tax a small percentage will more than pay for the extension of Unemployment Insurance.

Seems like this is a no-brainer.

Let's get it done.

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Comment Preferences

  •  Cut Defense (5+ / 0-)

    'nuff said.

    6.4 billion cut from the F-35 program for example would amount to a pinprick, have absolutely NO effect on our ability to defend ourselves.

    It doesn't increase taxes, doesn't cost jobs, its a win win for both parties.

    Honesty may be the best policy, but it's important to remember that apparently, by elimination, dishonesty is the second-best policy.

    by fauxrs on Tue Jan 07, 2014 at 09:29:07 AM PST

  •  Teddy Roosevelt (4+ / 0-)
    Recommended by:
    a2nite, bleeding blue, Dodgerdog1, 88kathy

    agrees with you:

    "We grudge no man a fortune in civil life if it is honorably obtained and well used," Roosevelt said. "It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community.... The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and … a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate."

    It always seems impossible until its done. -Nelson Mandela

    by chuckvw on Tue Jan 07, 2014 at 09:29:53 AM PST

  •  Hesiod - I am confused (2+ / 0-)
    Recommended by:
    FG, johnny wurster

    How does extending unemployment insurance for three months cost $6.4 Billion over the next ten years? Doesn't it cost $6.4 Billion over the next three months? What does ten years have to do with anything? My guess is that if $6.4 Billion of savings could be found in the budget over the next ten years it would be viewed as "paid for"? But shouldn't you explain that?

    Why is it relevant what the Estate Tax Repeal would have cost if it was never passed by Congress? If you have a proposal to increase the estate tax it would be useful to give a brief overview of where the estate tax is now and what type of increase you would propose.

    Personally I favor extending the extended unemployment program by adding to the deficit but the GOP won't approve that or raising the estate tax.

    "let's talk about that"

    by VClib on Tue Jan 07, 2014 at 09:30:44 AM PST

  •  Raise the capital gains rate on foreign investment (3+ / 0-)
    Recommended by:
    chuckvw, whizdom, Calfacon

    To the same rate as ordinary income. It would slow the outflow of jobs as well as helping to pay for the extension of benefits.

    "Remember, Republican economic policies quadrupled the debt before I took office and doubled it after I left. We simply can't afford to double-down on trickle-down." Bill Clinton

    by irate on Tue Jan 07, 2014 at 09:40:48 AM PST

  •  I like the way you think. (2+ / 0-)
    Recommended by:
    afisher, 88kathy

    Say, Congressman, while you vote against raising the estate tax and providing a UI extension, would you mind slapping this puppy and calling my granny a war criminal? Speak into the microphone, please.

    Art is the handmaid of human good.

    by joe from Lowell on Tue Jan 07, 2014 at 09:59:02 AM PST

  •  All transfer of wealth through inheritance (1+ / 0-)
    Recommended by:
    Calfacon

    should be taxed the same as personal income.  

    If I comply with non-compliance am I complying?

    by thestructureguy on Tue Jan 07, 2014 at 11:19:00 AM PST

  •  I wonder (1+ / 0-)
    Recommended by:
    88kathy

    if when they voted to RAISE the the limit on when the estate tax kicks in, they had a pay-for?

    "relief"

    •  Pay for is for the poor, no taxes is for the rich. (0+ / 0-)

      See the poor are the liabilities, and the rich are the assets.

      Now they have the 2nd (safety net for sloppy) Amendment, and can't be infringed to actually treat their gun like a gun and not a video game controller.

      by 88kathy on Tue Jan 07, 2014 at 02:25:15 PM PST

      [ Parent ]

  •  The Republicans are fundamentally wrong (0+ / 0-)

    we don't need to be paying for the Unemployment benefits increase and we still need more stimulus (i.e.  a higher deficit).

    Also, getting back to the perception of the tax and spend party is probably not something we need to be doing.

    While the extate tax is an excellent tax to raise, breaking the deficit obsession is probably more important.

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