Obama and Democrats push Karl Marx estate tax

November 30, 2010 06:22

The third point in Karl Marx’s 10 point program of communism in the communist manifesto is ‘Abolition of all rights of inheritance‘. A confiscatory ‘death tax’ provides the effect.

A Bloomberg article says that “Ending the uncertainty over extending Bush-era tax cuts may rest on resolving a decade-long debate over death and taxes.” When the Bush tax cuts expire January 1st the estate tax on anything over $1 million will revert back to a confiscatory 55%. Karl Marx would be proud.

Abolition of all rights of inheritance is number three in Marx’s Manifesto of the communist Party. But number two is a graduated income tax so you can see where Obama and the Democrats get their tax philosophy.

Conservatives like Senator Jim DeMint want a permanent repeal of the tax on estates. After all, tax has already been paid on earning for the life of the individual why should more tax be due at their death?

Others are willing to have varying combinations of rates and exemptions. Bloomberg says “Another is led by Democrats including Majority Leader Harry Reid who support a top rate of 45 percent that would apply after a $3.5 million tax-free allowance.” and  A third faction, led by Arizona Republican Jon Kyl and Arkansas Democrat Blanche Lincoln and embraced by Republican leader Mitch McConnell of Kentucky, backs setting the top rate at 35 percent after a $5 million exemption.” I guess you could call these proposals Karl Marx lite.

Here are the ten measures from the Manifesto of the Communist Party. See how many you recognize.

1. Abolition of property in land and application of all rents of land to public purposes.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.
6. Centralisation of the means of communication and transport in the hands of the State.
7. Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal liability of all to work. Establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of all the distinction between town and country by a more equable distribution of the populace over the country.
10. Free education for all children in public schools. Abolition of children’s factory labour in its present form. Combination of education with industrial production, &c, &c.’

By Michael Whipple, Editor  usACTIONnews.com

Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere:

Interested In Further Reading? Click Here