Saturday, July 29, 2006

The Inheritance Tax and other things.

Readers:
Angry Bear and the Economists View present a fairly accurate expression of the House passage of a bill promoting a Minimum Wage increase, along with about everything else; but espically further shaving of the Inheritance Tax and continuance of several Tax Cuts. PGL also provides and interesting post on the cost of Tax Cuts, they requiring future Tax levies when financed by Debt acquisition. Steve Verdon presents an article, The Impact of Medicare on Health-Care Spending, which is well worth reading; remembering this is a crowding in effect of health care Providers finding a Cash Cow--Patients must adopt all a Doctor's proscriptions and health demands, else they could lose their Coverage.
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Republicans are rabid to eliminate Inheritance Taxes before they face a potentially diferent Political spectrum, one without control of both White House and Congress. They will attempt any methodology to accomplish their desired Goal, even emplacing Inheritance Tax reductions within a Minimum Wage bill. The Bill, passed by the House, is ridden by multiple provisions covering almost the entire range of Republican economic desires; Anyone else would be ashamed of a Minimum Wage bill which exceeded 900 pages--most of it for special provisions. This is set up so Republicans get what they want, whether the measure passes in law or not. It even purportedly (I have not read it) originates a new health care Insurance plan. No matter, this bill is an obtuse book which no one could read.

Why the drive to end the Inheritance Tax?

Almost no one pays it. This Author cannot remember the Exemption level, but less than 10% of Estates will ever be affected by it. Only the Millionaries' lobby could find real interest in it. What duress does it apply to Agriculture or Small Business? It would only insist the Inheritors face the same Mortgage debt to pay the Inheritance Tax on the Properties, as did their Benefactors to gain the Properties in the first place. Is this such a horrid Concept? lgl

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