Breaking Now: The Tragic Plight of the Children of Wealthy People Exposed

Jumping wildly or not, Republicans have a problem here.  For forty years, since Ronald Reagan began attacking the estate tax (which is now so full of loopholes it’s largely meaningless), they’ve argued that giving free, unearned money to wealthy white kids after their parents die is a vital part of The American Way. 

Billionaire heirs even reportedly hired Frank Luntz to change the language around the Estate Tax and he recommended that Republicans start calling it the “Death Tax,” although it’s actually a tax on unearned income, not on dead people (who can’t be taxed because they’re dead).

At the same time that they’re pushing this line — that free money is a good thing for the children of wealthy white billionaires — Republicans also argue that giving free money to poor people or minorities is a terrible social ill that damages those young people for life.

While no reasonable person is suggesting the extreme, confiscatory Estate Tax example I ran by Newt, the truth is almost certainly somewhere in the middle.  Giving people the means to be totally indolent for the rest of their lives, whether from inheritance or unlimited government welfare, often turns out badly: just look at all the ne’er-do-wells produced by dynastic families.

Daily Kos Breaking Now: The Tragic Plight of the Children of Wealthy People Exposed