Thursday, April 2, 2009

Taxes: Because the Government Needs Money, and Can't Let You Become Wealthy

"President Obama's budget keeps the estate tax at its 2009 level, which means the government gets 45 percent of a dead person's estate valued over $3.5 million dollars or $7 million for a couple..."People who aren't wealthy, who may have built up value in land over generations and many family farms find themselves in situations where they've got to sell the farm in order the pay the taxes," said House Minority Leader John Boehner, R-Ohio..."The total repeal would have a substantial additional impact on revenues," said Rep. John Spratt, D-S.C. "And this is also a time when we need to -- we simply can't be profligate about tax cuts. And we think we struck a good balance." Yet Obama's own top economic advisor, Larry Summers, took an interesting position on the passage of wealth from one generation to the next. "The evidence presented indicates that intergenerational transfers account for the vast majority of aggregate U.S. capital formation," he wrote in a study that he co-authored in 1980." [link]

Well, there we have it, the two quotes in bold that gets it out in the open. One representative of the United States government has admitted clearly that taxes are to keep the government afloat and not for the good of the people, and another one says that taxes death taxes are a means to spread the wealth. Let that sink in for a bit, then go read the Declaration of Independence and see how our founding fathers thought about oppressive taxes, and what they did to handle the situation.

Quote for the Day

The powers delegated by the proposed Constitution to the federal government are few and defined. Those which are to remain in the State governments are numerous and indefinite. The former will be exercised principally on external objects, as war, peace, negotiation, and foreign commerce; with which last the power of taxation will, for the most part, be connected. -- James Madison The Federalist Papers, No.45