Hillary Clinton wanted to raise the estate tax to 40%. This has long been a platform of the democratic party. A married couple is successful and accumulates assets. When the last spouse dies the estate goes to probate and the government wants to take a big chunk. In the case of a farm this may mean the farm must be sold to pay the tax bill. The same for a small business. Of course all manner of taxes have been paid while living: income taxes, capital gains taxes, etc. None of this matters to democrats who want to get the last pound of flesh at the gravesite.
A little known fact about Davy Crockett is his “Not yours to give speech” to Congress. Congress was debating appropriating funds to the widow of a deceased Nary serviceman. Crockett said he had “much respect for the memory of the deceased”, but Congress did “not have the semblance of authority to appropriate it as a charity”. Further calling it corrupt.
What would old Davy say about the death gratuity? Congress deals out a death gratuity equal to the salary of a deceased member of Congress to the surviving spouse. When Frank R. Lautenberg, D-NJ died his spouse received $174,000. Frank was worth $57 million when he died. And, you can bet your ass his estate attorneys created ever loophole to insure his estate tax was zero.
So, in typical fashion, our government looks after themselves. They extract a death tax for citizens to pay to the heirs of the wealthy members of their little club when they die.
Does the swamp need draining?
