The wealth gap is increasing.
And it will still increase beyond belief until our leaders come to the realization that it is killing Democracy!
The incredibly rich billionaires, many of whom head corporations worth trillions of dollars are legally hiding their money and handing it down to their scions free of taxation.
This ‘step up’ tactic is a scam similar to the ‘trickle down’ scam of the Reagan era and it must end or America will.
We are headed in the direction of a full on feudal state of masters and serfs!
The once so-called ‘death tax’ could easily be reformed so as to not harm those with moderate inheritances.
Congress could decide upon a number below which funds would be exempt from the tax.
That ‘monetary floor’ could be changed periodically to mirror changes in the cost of living.
It could start as low (high?) as 10 million dollars.
In other words when the owner of an incredibly wealthy estate 'passes on' the first $10,000,000 of his/her wealth is tax exempt for the heirs.
Any money over and above that amount would be taxed at a rate decided upon by Congress.
And the rate could be a progressive scale, increasing with the size of the estate in consideration.
The spawns of the obscenely wealthy would not lose any of their abilities to donate to super pacs or bribe their favorite politician to do their bidding.
They would merely have a tiny amount less with which to do so.
And there would still be no need to hold a telethon or start a 'go fund me' page on their behalf!
Republican President Eisenhower presided over a prosperous period of economic growth, and he did so while the IRS wielded a top tax rate of 91%!
And no billionaires were harmed during the length and breadth of his administration’s tenure.
It is WAY past time for America to stop coddling the least needy of our Nation and start cuddling the rest of us!
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