Franken-Lies-And-the-Lying-Liars-Who-Tell

person who is still alive. The living person might use the money for medical care, food,
travel, or other things that dead rich people don't have to think about.
The other bogus argument put forth by opponents of the estate tax is that it amounts to
"double taxation." The idea is that you pay taxes as you accumulate your fortune, and then
your children have to pay taxes on it again when you die. There are two problems with this
argument. First, everyone pays double taxes all the time. Sales taxes, for example, are taxes
on already-taxed income. Fees on things like your driver's license, a fishing license, a hunting
license, and other licenses—that's all double taxation. Also fees on things that aren't licenses.
Like permits. Let's say you want to open a business selling licenses. You need a license permit!
That's triple taxation. I think.
Import taxes, excise taxes, bridge tolls, car registration, taxes on alcohol, gasoline,
and tobacco are all double taxes. So are property taxes, which tax assets bought with already
taxed income.
However, the repeal of the estate tax will create a way to avoid not just double taxation,
but also single taxation. Here's how to do it. Buy an enormous amount of stock or property.
Let it accumulate value. Die. Now the money goes to your kids, who escape both estate
and capital gains taxes. Thanks to Bush, by 2010, only one thing will be certain in life. And
that thing is either death, or taxes.
This new tax loophole is not a trivial matter. For estates worth more than $10 million,
over 56 percent of their value comes from unrealized capital gains. Capital gains come from
money making money without anyone actually working. Thus, our nation's most generous tax
laws will now apply to the children of the very rich inheriting money even their parents didn't
earn.
Instead of giving $60 billion a year to our country's heirs and heiresses, we could be
paying for things like after-school programs, schools on military bases, child vaccinations in
Third World countries, prosecution of polluters, health care for veterans-all things which
Bush has cut.
Take your pick. Which is more important? Making sure that Ivanka Trump will be
able to live in the style to which she's grown accustomed even after The Donald has left our
world? Or making sure that little Ivanka Average can go to a school that has toilet paper in
the bathrooms?