The republican party is the actual party of equal opportunity, however not equal results ( a meritocracy)
hahahahahahahahahahahahahaha, are you serious?! They've been trying to kill the estate tax forever, so their heirs will always start life miles ahead of the people they try to sell the "meritocracy" myth to.
An estate tax hurts minorities trying to get into the middle class. It prevents families from acquiring wealth and passing it on. That is how wealth has been built in the past among Irish, Italian and German immigrants.
No, no it doesn't. The lack of an estate tax ensures wealth is kept and grown for the top 1-2% of income earners and opportunity is squandered for those below the poverty line. I'm not keen on a society which has a small, shrinking class of trust fund babies with an increasingly greater share of the nation's wealth while we have a much larger, growing class of low-income earners with an increasingly smaller share of the nation's wealth.
Don't you get it--raise the estate tax to 90% and people like Romney still won't pay a dime. They will put there funds into a living trust which is treated as living entity (for legal purposes) and taxed at very low levels.
The estate tax punishes people trying to get into the upper class, it punishes immigrant businesses and so forth--if anything it is designed to keep the non WASP's out of the upper class.
Rich is a current state of being that can happen overnight. For example: lottery winners, new found celebrities and even high payed professions such as doctors or lawyers belong in the category of rich. They have quite a bit of money, but only have that money because of one source. Becoming rich can happen in an instant, but at the same time it can disappear in an instant.
Wealth is being rich, but being rich through ownership of assets. Wealthy people don’t rely on their job, one particular asset, or even their natural talents. Wealthy people own assets and if you took away their job (if they have one) they wouldn’t be poor. If you took away the income stream from a rich person, they would quickly become poor. There’s a huge difference here.
In the most basic of terms rich people are not financially free while wealthy people are.
Chris Rock said it best:
Shaq is rich; the white man that signs his check is wealthy. Here you go Shaq, go buy yourself a bouncing car. Bling-Bling . . . . I ain’t talking bout Oprah, I’m talking about Bill Gates. OK!. If Bill Gates woke up tomorrow with Oprah’s money, he would jump out a …window. I’m not talking about rich, I’m talking about wealthy—Chris Rock
God forbid some brown people got wealthy... We can't have that! Because drugs come from brown countries. We can't have no wealthy brown people! There are no wealthy black or brown people in America.
Wealth will set us f****** free, okay? 'Cause wealth is empowering, wealth can uplift communities from poverty, okay? A white man gets wealthy, he builds Wal-Marts and makes other white people have some ************ money.. Chris Rock
The estate tax is detrimental to building generational wealth.
But that's the problem with DEMS they think it is the role of the government to pick winners an losers--it is the governments job to raise communities out of poverty--well you have been failing--what is the definition of insanity?