DECEMBER 17, 2010
What follows is my opinion. I rarely devote the majority of a column to one issue. I have written this as an editorial piece. You may quibble with my assertions but the facts are accurate. You do not have to agree with me; that is the concept of an editorial. As always, post a comment with your opinion or response.
December 17 is … Underdog Day and National Maple Syrup Day. We are all underdogs when it comes to the government. Who doesn’t like Maple Syrup?
Before the opinion flies, take a look at; http://www.rockthetower.com/ for a good read and a fine article on the Battle of the Bulge.
Let me get this straight. I or anyone works their entire life earning money and accumulating wealth. During the entire period of working and accumulating wealth, income taxes, capital gains taxes, property taxes, sales taxes and an assortment of other taxes and fees are paid on what is earned, accumulated gained or gathered. If any of your wealth is a result of investments in the stock market, your dividends have been taxed twice. It is taxed once as income to the corporation before it is distributed to the investor and taxed again by the investor after distribution as income again. Taxes and fees are paid at the federal level, the state level and in some cases, at the county and city level. Fees are imposed on everyone at every level.
You have worked hard and have become a success. You have never been on welfare or received any government “entitlement program” funds. You make charitable contributions in line with your beliefs. You are a generous person You have raised children. Your children have never been a burden on society. You taught them well. Perhaps you gave them an employment opportunity. You have grandchildren. You want to leave the world a better place than when you entered it. You parents afforded you a better life than they had and you want to do the same for your children and grandchildren. But wait, the government of the United States does not want this to happen.
Estate taxes, death taxes, one last kiss our ass tax from the government, the stifle your drive tax, the give it to the government tax, the screw your children tax, the might as well spend it while I am alive tax or whatever you want to call it is wrong. It is Socialism. It is communism at work.
Congress is debating this immoral tax with the Democrats wanting to raise the tax rate and Republicans wanting to lower the tax rate. I want to eliminate the tax rate. If and when the tax kicks in, it is taxation without representation at its truest form. You are dead and therefore getting no benefit from the tax. If you are buried in a cemetery, the plot you rest in already pays property taxes. That is enough post death tax for me.
Senator Dick Durbin recently said it was pure greed driving those that want to do away with the estate tax or lower it from the current 45% to 35%.. I earned it. I own it. I want to distribute as I see fit. It is not greedy to want to control what you own. It is greed to simply take it from me after my death so you can spend it as you see fit. The taxpayer is not greedy, Congress is greedy.
Every dollar earned by working, productive Americans is taxed through numerous taxes, taxing bodies and government imposed fees at nearly 80%. That means to accumulate one dollar in wealth, a citizen has to earn over $12.00. To accumulate a significant estate takes a lot of work and a lifetime. The estate tax has been around for awhile but it is being debated now because the greedy Democrats want to take most of a person’s estate and give it to welfare recipients. The tax convinces many brilliant, hard-working individuals to cease trying to be the best they can be. Why work yourself to the bone when you and your family will not enjoy the fruits of your labor. It convinces others to spend everything they have before they die so the government will not get their fortune. Off shore banks are making a killing. The law invites law-abiding citizens to skirt the law. If I spend everything I have before I die, the government will take care of me. They do it for millions of lazy welfare recipients already. What is one more?
Individuals who use tax advisors and wealth experts will be able to get around the law. The easiest way is to make sure everything one owns is titled by a legal entity that does not die. These entities could be corporations, trusts or limited liability companies. In that case, an individual can draft the terms of ownership to give the entity legal title while equitable title is retained by the person who created the wealth. T will not be long, however, until the government finds a way to tax these arrangements or make them illegal.
Slavery is outlawed but the tax laws force my descendants to work just to put money into the government coffers. If I worked hard enough and was successful enough to leave a legacy where my children and grandchildren did not have to work, why will the government not allow that to happen? According to the government, i.e. Democrats, everyone must work unless, of course, you are lazy, a drug addict, an illegal alien or a baby making machine that votes Democratic.
“Every human being comes equipped with a brain at no extra cost.”
Apparently, our government does not follow this adage.
Today is a great day to buy my book. It makes a great gift for anyone including, yourself. Buy it while you still have money.
BRUCE A. BRENNAN
DEKALB, IL 60115
COPYRIGHT 2010
Email: brucebrennanlaw@aol.com
www.brucebrennanlaws.com
www.lawyerbruceabrennan.com
Go to web sites below to buy books by Bruce A. Brennan
http://www.barnesandnoble.com/ (do a quick search, Title, my name)
http://www.smashwords.com/ Do a Title or author search, Check this site out.
