4 thoughts on “GOPer Tax Plain Doesn’t Just Favor the Riches; It Favors the IDLE Rich”
The most obvious way is the repeal of the estate tax, which currently affects only estates worth at least $5.49 million, or roughly the wealthiest 0.2 percent of Americans who die each year.
Eliminating estate taxes paid by the very wealthy few seems unlikely to improve their work ethic. If anything, increasing the value of their bequests will make it less attractive for heirs and heiresses to hold down a job or start a company that they actually run.
For years the GOP has argued that we need to cut taxes to incentivize work and job creation. If only today’s allegedly sky-high marginal rates were lower, millions of talented, driven Americans would apply more of their talent and drive toward growing the economy.
Why? Well, if they got to keep more of their hard-earned cash, there would be a greater payoff from clocking that extra hour, taking on that extra project, seeing that extra patient, scoring that extra client, building that extra business, and so on. Working would look more attractive relative to playing an extra round of golf.
True enough–Donald's reign is proof enough that the link between hard work and more money is tenuous at best FFS.
True enough–Donald's reign is proof enough that the link between hard work and more money is tenuous at best FFS.
Kruggie tweats on the Cut Cut Cut Act:
https://twitter.com/paulkrugman/status/9279365021…
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