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And you wonder why California, run by pretty much only liberals, is such a basket case of a state in the country. They want to take everything and spend it on illegal aliens and non-productive citizens because let's face it. The base of the Democratic Party are children of illegal aliens, welfare junkies, and people who have little to no social mores
Late in the evening on Dec. 16, the US House of Representatives passed President Obama's tax cuts for billionaires. It marked the first bipartisan achievement of the president, just 23 months after hailing himself as "the first post-partisan president."
The vote was a crushing defeat for the fringe progressive wing of the Democratic party, by a margin of 277-148.
The estate tax question really is misunderstood by some here. A tax cut for billionaires? Well lets see, the estate tax last year was zero for all estate's, now it's zero up to $5m, then at 35%. Yes - this is literally a tax increase for the wealthy.
Now, the estate tax has been at various levels in history and always subject to debate. This estate tax deal was a compromise reached by both a democratic and republican senator and endorsed by the American Farm Federation.
So, yeah, those posters who claim it was a tax exemption for the rich have been mislead by Democratic talking points. You've been fooled, and taken for a fool.
I would cut taxes on the rich even more than what just passed. We need to scrap all taxes, deductions, and credits and move to a flat tax system where everyone pays 10% on the income they are somehow bringing home. Also we need to scrap all taxes on business and investment and move to a VAT/sales tax.
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