Tuesday, August 2, 2011

Monday, August 1, 2011

What is the Death Tax?

FOR estate planning, the big headline to emerge from the tax deal last December was that the estate tax exemption would be raised in 2011 to $5 million, or $10 million for married couples. Anything over those thresholds would be subject to a 35 percent tax.
http://www.nytimes.com/2011/02/13/business/yourtaxes/13estate.html 


The death tax (a.k.a., the federal estate tax) is a tax applied to the transfer of a person’s assets at death. It is defined by the Internal Revenue Service as “a tax on your right to transfer property at your death.”[1]
Under current law,  the is rate of 35 percent with an exemption of $5 million.



Michele Bachmann Top Ten

http://thinkprogress.org/politics/2011/06/16/246618/bachmann-craziest-quotes/
#(2) BACHMANN CLAIMED ABOLISHING THE MINIMUM WAGE WOULD CREATE JOBS: While testifying in front of the Minnesota Senate in 2005, Bachmann said, “Literally, if we took away the minimum wage — if conceivably it was gone — we could potentially virtually wipe out unemployment completely because we would be able to offer jobs at whatever level.” This isn’t remotely true. Even simply reducing the minimum wage would, as Paul Krugman noted, “at best do nothing for employment; more likely it would actually be contractionary.”

Bonuses for Billionaires


  Republicans won’t extend unemployment benefits, even in the worst downturn in 70 years, because that makes people lazy about finding jobs. They’re right: We should be creating incentives for Americans to rise up the food chain by sending hefty checks to every new billionaire. This could be paid for with a tax surcharge on regular working folks. It’s the least we can do.

House Republicans don’t have a jobs plan. That’s unfair! Granted, the Republican-sponsored Cut, Cap and Balance Act would eliminate 700,000 jobs in just its first year,according to the Center on Budget and Policy Priorities, but those analysts are no doubt liberals. America’s richest 400 people own more wealth than the bottom 150 million Americans, and the affluent would feel renewed confidence if the Republican plan passed. We’d see a hiring bonanza. Each of those wealthy people might hire an extra pool attendant. That’s 400 jobs right there!  ())

http://www.nytimes.com/2011/07/21/opinion/21kristof.html?_r=1 

Bachmann declared that the American tax code creates "a similar death and a similar taking away" as Hitler's extermination of six million Jews during the Holocaust.


"Make the lie big, make it simple, keep saying it and eventually they will believe it" - Adolph Hitler

Fascism comes to America


"When fascism comes to America it will be wrapped in the flag and carrying a cross" - Sinclair Lewis

Corporations



"Fascism should more appropriately be called Corporatism because 
it is a merger of state and corporate power" - Benito Mussolini

Poster Boy for the New Republican Party

DeLay, who swore an oath to "support and defend the Constitution of the United States against all enemies, foreign and domestic," chose instead to make himself the most powerful legislative enemy of representative democracy.....the following link  is extremely comprehensive. http://www.thedubyareport.com/delay1.html

                     Thomas Dale "Tom" DeLay ( more backround and history)

Are Taxpayers Getting Their Money's Worth? New Report Exposes the True Cost of Congressional Compensation

Most taxpayers think that Members of Congress should be adequately compensated for their efforts.  However, it is excessive when the salaries and benefits paid to members of Congress make them among the best compensated employees in the American workforce.........   http://www.protectingtaxpayers.org/index.php?blog&action=view&post_id=56


Sloppin' er up from the public trough

What Happened to the $2.6 Trillion Social Security Trust Fund?

...........the federal government has borrowed all of that trust fund money and spent it.http://blogs.forbes.com/merrillmatthews/2011/07/13/what-happened-to-the-2-6-trillion-social-security-trust-fund/



"Nobody seems to know, where did the money go......"
http://www.youtube.com/watch?v=-a3DZsO36cA