Currently, the United States has the fourth highest estate or inheritance tax rate in the OECD at 40 percent—nearly three times the OECD simple average of 15 percent. Despite its high tax rate, the U.S. estate tax accounts for less than 1 percent of total federal revenue. In 2014, the estate tax raised $19.3 billion, or 0.6 percent of total federal revenue of over $3 trillion.
Hillary wants to increase the Death Tax. Trump wants to eliminate it. Hillary’s plan to increase the Death Tax will do little to bring in more revenue. But it does smack of the tenets of Communism.
The origins of the death tax come from the Communist Manifesto. This tax was touted by Karl Marx as one of the strategies to secure government ownership of assets. Think about it: With a 50 percent death tax, over time the government will own 50 percent of the nation’s assets. With a 100 percent estate tax — and Clinton’s proposal isn’t far from that — the government eventually owns… EVERYTHING!
The Death Tax is the second, third, or fourth tax on earnings. For instance, corporations pay tax on their income. When they distribute some of their earnings to their shareholders as dividends, those dividends are taxed again. In this example the citizen has already been twice taxed. However, when he or she dies, (recall that all taxes on their accumulated wealth have already been extracted) the government wants yet another piece of the pie.
Sixty-three percent of people want to eliminate the federal estate tax, according to a Gallup poll taken in March. The Democrat Party loves the socialist systems in Norway and Sweden, but Norway and Sweden have done away with the Death Tax.
The Death Tax is evil and contributes little. Let’s get rid of it once and for all. Vote Trump!