CSNbbs

Throughout the Republican National Convention, Donald Trump's water carriers repeatedly praised the pretend populist as a "blue-collar billionaire." Given his inherited wealth and decades-long record of scorched-earth business practices, that title was always comical on its face. But there's nothing funny about the payday for plutocrats Trump has in mind if elected president. His gargantuan tax cuts for gilded class would drain up to $12 trillion from the U.S. Treasury over a decade while handing the top 0.1 percent of income earners an average savings of $1.3 million per year. And as one recent analysis concluded, Donald Trump's plan to eliminate the federal estate tax would redirect up to $7 billion from Uncle Sam to his own kids.

The 40 percent estate tax is levied on fortunes over roughly $.5.5 million per person ($11 for a couple). Paid by just 2 in a 1000 estates, the tax impacts almost no small businesses and family farms. But as the nonpartisan Congressional Budget Office (CBO) warned last year, its repeal would drain $269 billion from the federal government over 10 years. As The Hill reported, among the handful of beneficiaries of its elimination would be Donald Trump's heirs:

Quote:Donald Trump's family would get a $7.1 billion tax cut under the Republican presidential nominee's proposal to eliminate the federal estate tax, a centrist think tank estimated...

Instead of giving Trump's heirs a windfall, Congress could spend that $7.1 billion on expanding Pell Grants for three years, funding efforts to find a cure for cancer for seven years, finance career and technical education and skills for a generation and support electric-grid investments for more than 10 years, Third Way said.

The think tank came up with the $7.1 billion figure by estimating that Trump's estate would be valued at $17.7 billion in 2030, the year actuarial tables estimate that Trump's family would inherit the money.

President Trump would give himself and his children a massive tax cut now, and a huge windfall later. This is in contrast to Warren Buffett and other billionaire supporters of Hillary Clinton, who signed the Giving Pledge, so that they charitably give away their fortunes when they die.

At the Republican National Convention, Donald Trump proclaimed himself the "voice" of "the forgotten men and women of our country." But when it comes to the question of just who will pay to fill the hole created by President Trump's largesse to his own children, that "voice" is silent about the answer.

You will.

Yes, tax cuts for this douchebag.



I believe that elephant symbolically represents the Republican Party btw.

Good for him.

Good for him for conning you?

Big deal max.. so his estate is large.

This is just an article of 'I'm jealous that my value isn't worth what Trump's is worth".

Again, why should the government get something for nothing more than you dying?

Terrific! Trump and his 5 kids are the next 6 rulers of the US! The question is, after Trump, will it be Don Jr. or Ivanka?

Weep for the billionaires!

Its funny Max is butthurt over the Trump's earning their money, but supports Lying Crooked Hillary who received her money from the Saudis and other government that kills gays and beats women.

Lying Crooked Hillary and Klepto Kuck Kaine

(08-02-2016 08:31 AM)DaSaintFan Wrote: [ -> ]Big deal max.. so his estate is large.

This is just an article of 'I'm jealous that my value isn't worth what Trump's is worth".

Again, why should the government get something for nothing more than you dying?

Because dynastic wealth is one of the great causes of income and wealth inequality and is even offensive. Because the great great grandkids of 19th century robber barons shouldn't never have to work for anything in their life. Because we have a government to pay for, and better to have the rich pay than the poor and middle class, who live paycheck to paycheck and put their income back into the economy, increasing production and standard of living. Because money sitting in the bank accounts of the rich does far less for the economy, especially in times like this with rock bottom interest rates.

What's a 40% estate tax for estates over $5.5 million? Why do you care so much about them being able to afford that third yacht? They'll be fine, stop crying for them.

(08-02-2016 08:40 AM)UofMstateU Wrote: [ -> ]Its funny Max is butthurt over the Trump's earning their money, but supports Lying Crooked Hillary who received her money from the Saudis and other government that kills gays and beats women.

Lying Crooked Hillary and Klepto Kuck Kaine

She took money from the Saudis?

I wonder what her involvement was in 9/11?

(08-02-2016 08:40 AM)UofMstateU Wrote: [ -> ]Its funny Max is butthurt over the Trump's earning their money, but supports Lying Crooked Hillary who received her money from the Saudis and other government that kills gays and beats women.

Lying Crooked Hillary and Klepto Kuck Kaine

The Clinton Foundation is a charity. You realize that right?

(08-02-2016 08:41 AM)Max Power Wrote: [ -> ]

(08-02-2016 08:40 AM)UofMstateU Wrote: [ -> ]Its funny Max is butthurt over the Trump's earning their money, but supports Lying Crooked Hillary who received her money from the Saudis and other government that kills gays and beats women.

Lying Crooked Hillary and Klepto Kuck Kaine

The Clinton Foundation is a charity. You realize that right?

A charity with tremendous overhead!

Yeah, and I'm uneasy about the fact that it accepts donations from unsavory characters. But the bottom line is that money isn't just going into Hillary's pocket.

(08-02-2016 08:46 AM)Max Power Wrote: [ -> ]Yeah, and I'm uneasy about the fact that it accepts donations from unsavory characters. But the bottom line is that money isn't just going into Hillary's pocket.

I'd like to see their books. Were Clinton's trips to Lolita Island covered by donors as an administrative expense? What salary did they pay themselves and their cronies? How much money did they bring in total, how much real, actual work was done, and can someone do an independent cost estimate to do all that work? How large is the gap and where is that money now?

From Wiki:

Charitable grants are not a major focus of the Clinton Foundation, which instead keeps most of its money in house and hires staff to carry out its own humanitarian programs.[7] Because of this unusual structure for a foundation, Charity Navigator, a charity watchdog, has said it does not have a methodology to rate the Clinton Foundation.[7] Consequently, they added the foundation to their charity "watch list" in April 2015; it was removed from the "watch list" in December 2015 after the charity posted amended tax returns and a public memo on its website.[8] A different charity monitor, the American Institute of Philanthropy, says that 89 percent of the foundation's money goes toward its charitable mission and gave the foundation an A rating for 2013.[1]

(08-02-2016 08:30 AM)Max Power Wrote: [ -> ]Good for him for conning you?

He has already paid tax on that income. Estate tax is the con job. Your ilk would take 100% if you could.

Do you want to pay more in taxes so Trump's kids can keep more of their billions?

(08-02-2016 08:53 AM)Max Power Wrote: [ -> ]Do you want to pay more in taxes so Trump's kids can keep more of their billions?

We should be cutting spending dramatically, end of story. Nothing should be off the table.

I have a moral objection to the Federal estate tax. So, I don't care how much money it drains from the Federal treasury.

Any such tax should be levied by the States only.