Tag Archives: Koch

GOP plan to end “Death Tax” means the billionaires will be overjoyed, while the rest of us pay the bills

Tuesday, 4/4/17: examining entire fake “Russian Dossier” on Donald Trump!

Estate tax percentages have varied in recent history, ranging from 55% in 2000 under George Bush #1 to 35% under Barack Obama and now 40% under Donald Trump. The GOP wants it to be zero.

300px-Estate_Tax_Returns_as_a_Percentage_of_Adult_Deaths,_1982_-_2010Currently, couples with less than about $11,000,000 pay no estate tax. On amounts above that, the government takes 40% for taxes. The history of the estate tax revolves around the desire for fair taxation of the richest Americans to pay for public programs.

Eliminating the estate tax will aid any couple who die with more than $11 million (current deduction), and the GOP argues that this would affect many small businesses, which would have to sell land or equipment to pay the tax.

I have an idea that should please the GOP and still maintain some sanity in our progressive tax system. This is in addition to the 123 Plan, which easily adds $54 billion in revenues to the federal budget this year.

Only apply the estate tax to those whose estates are $1 Billion or more, but raise the rate to Bush #1 rate of 55%.

That would generate $1,514,425,000,000, or $1.5 Trillion that the rest of us won’t have to pay in income and other taxes. This revenue is calculated by taking the total current Forbes wealth of all American billionaires and assuming they will die someday and have to pay the estate tax.

If there is no estate tax, they will avoid $1.5 trillion in taxes.

Who are these billionaires. Check the list Continue reading →

Koch & Iran deal – GOP candidates may be liars

John Glaser and Justin Logan, writing on the CATO Institute website have claimed that the deal with Iran to delay making atomic bombs “is an historic achievement that decreases the likelihood of an Iranian nuclear weapon and forestalls the risk of another costly U.S. war in the Middle East.”

The near-consensus among arms controllers is due to the deal’s strong nonproliferation features. Under the deal, Iran would reduce its stockpile of centrifuges by two-thirds and dismantle about 97% of its low-enriched uranium. For 15 years, the Iranians will be prohibited from enriching any uranium at their Fordow site and the Arak reactor for plutonium production would be permanently disabled, CATO braintrusters assert..

Throughout, Iran would be subject to one of the most robust and intrusive inspection regimes in the world, with continuous video monitoring of its uranium mines for the next 25 years and monitoring of centrifuge production facilities for 20 years. Expanded inspections under the Additional Protocol are permanent.

The CATO Institute is a libertarian organization founded as the Charles Koch Foundation in 1974 by Ed Crane, Murray Rothbard, and Charles Koch.

Yes, that Charles Koch, darling of the conservative wing of the GOP, son of Fred Koch, founder of the John Birch Society. Originally, CATO was called the Charles Koch Continue reading →

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