There’s a photo going around on Facebook this morning that featured a quote from Senator Bernie Sanders, Independent from Vermont, and an avowed socialist democrat. The Senator states the following: “Today the House voted to give $269 billion in additional tax breaks for the families of the wealthiest 0.2% of Americans. Not only are the Republicans giving huge tax breaks to people who need it the least, they are simultaneously raising taxes on working families by ending earned-income and children’s tax credits that benefit 13 million Americans.
I wonder how many people will share this without actually checking things out.
The U.S. House of Representatives voted Thursday, April 16 to repeal the federal tax on estates, which affects few inheritances. According to Fox News, which most liberals hate, the federal estate tax is 40%, but exemptions limit the share of estates that pay it to less than 1%. The exemption is $5.43 million for a single person. Married couples can exempt up to $10.9 million. Larger estates pay taxes only on the amounts above the threshold.
I’ve always been against the estate tax. I think it’s immoral. First of all, it’s not the government’s money. It belongs to the people who have already earned it and have already paid taxes on it. For the government to come in and take 40% of someone’s estate is confiscation and it’s stealing.
Furthermore, I can demonstrate that it’s Communism. The philosophy of the Democrats in opposing the elimination of the estate tax is that these folks will still have millions left after the government takes what it wants. The government is deciding how much money someone should make and/or have. Remember, “From each according to his ability and to each according to his need.”
This is not going to affect most of us, and it’s certainly not going to affect me. However, putting a quote from socialist Bernie Sanders out there stirs the pot and has the masses wanting to tar and feather anyone who is rich.
The quote goes on to say that the Republicans are simultaneously raising taxes on working families by ending the earned-income and children’s tax credits that benefit 13 million Americans. I’ve got news for you folks, that’s not true. The EITC and the children’s tax credits are not to expire until 2017. I did some research on this and through Google, I could only find liberal publications that were trashing the Republicans. While it appears that not extending these taxes has been talked about and that nothing is in place to make them permanent, what Senator Sanders says about this is false.
The federal government, in taking money that has already taxed, is stealing and one of the Ten Commandments says, “Thou shalt not steal.” Another of the Ten Commandments says, “Thou shalt not covet.” While it is certainly not for me to judge, but it seems that the taking of this money is stealing which many are proponents of. Also, when the Democrats say that it’s okay to take this money because these fat cats still have enough left is being covetous.
Instead of focusing on how much you hate the wealthy and how you would so like to punish them, wouldn’t it be better to focus on your own circumstances and channel all of this energy into making some money for yourself?