I’ve said it before, and I’ll say it again: Whatever you think of Hillary Clinton, she IS transparent about who she is and what she’s about.
Oh, I’m not talking about whether she is “honest,” in the garden-variety sense of the word; I think we all know the answer to THAT.
I’m referring to her general ideas, her policies…her vision for the future of the country.
That’s why there should be nothing surprising, in terms of Clinton’s known ideology, about her wish for an estate tax rate so high that the mere mention of it should be against the law. The Democratic nominee for president has actually outlined a plan wherein the top tax rate for the largest estates would sit at an astronomical 65%.
In addition to the 65% rate to be applied to estates in excess of $500 million for single people and $1 billion for married couples, a 55% rate would kick in for estates valued at more than $50 million per person, and a 50% rate would be levied against estates valued at over $10 million per person.
While those estate value thresholds are sums that are certainly much higher than most Americans will ever see, the idea that anyone, regardless of the amount of their wealth, should be mandated to fork over to the government as much as 65% of it at the event of their passing…is nothing short of obscene.
On that note, it is worth pointing out that Clinton is also in favor of lowering the per-person estate tax exemption threshold, as well. Right now, when someone passes, the first $5.45 million in estate value is exempt from any “death tax” obligation whatsoever, but Hillary wants that to come down to $3.5 million.
In other words, despite the fact that the exorbitant 65% rate would apply only to the wealthiest of all people, it is clear that Madam Collectivist has her eyes on everyone’s dough; after a few years at the $3.5 million mark, $3 million will start to look better to Hillary and her ilk, then $2 million will seem to make more sense, then $1 million, until all who die owe some amount of their estates, regardless of how small they may be, to our government masters.
By Robert G. Yetman, Jr. Editor At Large