Dakota Beacon

A flat 10% Federal Inheritance Tax would enable “family owned enterprizes” to be passed on to new generations of Americans instead to being liquidated to foreign interests, the main reason we have lost U.S. ownership of most such businesses.

The year 2000 entitlement spending amounted to 10% of GDP. If a family’s annual income were $100,000 wouldn’t it be enough for the family to limit it’s “charitable contributions” to 10% or $10,000?

The current U.S. national debt is 12% of GDP. If a family’s annual income were $100,000 wouldn’t it be prudent for the family to limit its debt to 10% or $10,000? This is the revolutionary concept promoted on the Dave Ramsey radio show that is motivating thousands of American families to become debt free in a matter of a few years and staying debt free by buying only with cash. Dave’s concept is the essence of love itself, namely the discipline of delaying of gratification until one can afford the pay with cash. The money changers (bankers) hate the concept!

The Death tax is dumb. I know it only effects you if your net worth is over like 600k or something (that could be way off), but I still hate it. It’s just another form of stealing from the rich because the govt can…You already payed income taxes on your “net worth” why does the government have the right to suddenly just steal a whopping 45% of whatever you have when you die. Not only is it unfair imo it is bad economic sense. You take money from those that obviously know how to spend wisely, build wealth, grow the economy, and you give it to the govt, which is inherently wasteful, and inefficient. How do you think that will help “grow our economy”???? The govt is just gonna waste it on pork spending or use it to perpetuate the welfare state…

Tom Paine proposed a 10% death tax as compensation to every person born into a society that no longer provides the opportunity to “hunt and gather” for survival due to “land improvements” (in that day agriculture, today all kinds of business enterprises that conflict with and prevent “hunter-gathering”). I too hate the death tax, especially at about half the value of the estate, preventing passing it on to heirs due to excessive taxation.

I just want everyone to know the justification and that if Paine’s law (10% estate tax) were passed today, the proceeds would be distributed as a check to each and every person who attained the age of adulthood towards whatever he or she deemed necessary, whether it be toward paying off college loans, starting a business or buying a new family car. In today’s economy, the check would be about $23,000, in Paines time, much less but worth as much in the economy.

In my opinion, this would be far preferrable and more fair than current laws that favor subsidizing college students over those who choose the workplace at an early age. Why should intellect guarantee one a subsidy from government?

And 10% is not so large as to demand the sale of the estate.

The compensation of the young for what previous generations have done to the earth due to “land development” is an arguable point. I do agree that it arises from envy of the inheritance-gifted rich.

Thanks for the input, “make solar panels”. Why don’t you have the courage to use your real name?