Herr Krugman and Robert may not remember the old Highwayman named Stagflation, but their youth can be forgiven. There is every indication that old basket of Goods is costing more than ever, even if Santa short-listed and skipped about 10 million households this year. There seem to be about two million households which health care providers cured because no one could pay the bill (on the third day of Christmas, the Doctor himself is scheduled for a lower GI–-courtesy of the Patients). Enlightened Business personnel have set their leave-taking on that 3-Week Cruise in the Caribbean for the day after Christmas–Santa offering no sleigh Tour service this year. Everyone states that Commodities should race for the sky, but even China are not actually presenting the expected volume of Orders. The Commodities still have not fallen to pre-Short Dollar prices. The weakened Currency has not brought on more Exports, even though there is economist’s lament that Exports are like Stimulus, and you cannot determine the exact impact. Another 50 Cent increase in Gasoline pricing within the context of lowering Oil price makes me pine for the good old days of Middleman Costs, instead of extraneous factors.
I include this Post simply because I believe Readers should view it, though I have not referenced it for Content. The real rationale for the FDR failure in the later 1930s with his legislation stem not from a loss of popular support, but an aged Congress; such Age determined by length of service within the distinguished body. Special Interests held more power at the time in question, when Congressional salaries were lower in relation to the cost of intrinsic joys in D.C. and New York, and the Special Interests picking up the tab for special dinners very important. An old campaigner among the lobbyists always said it was always a question of getting enough prime Steak in their stomachs. Now it costs another $5-10 Thousand in the native political campaign contribution basket. I am trying to remember which Nebraska paper once wrote that they would not accept paid political ads from political Nominees, as it was a violation of Free Speech (was it Wood River, Kearney, or Revanna?). The methods of corruption remain basically the same, couched in terms of Gain or Loss for the specific Congressman or Senator. It still works well, of course!
I will finish with this article, asking the Reader what is the value of such a tax elimination? Anyone subject to such a estate tax had to accumulate quite a pile of assets–I think approaching $3 million. The resolved price tag on estates from the inheritance tax equates well with the adoption of a mortgage liability. Republican ideology would state that the removal of a Generational mortgage should be protected as a Property Right, even though Republicans may abridge any Property Right except an increase in Tax rate. I don’t know whether Daddy having founded the company should grant an additional 50-60% of the detailed Profits, but I do know that such grants a Competitor the ability to potentially undersell his competition. Here is the exact point where I find a degree of fallacy within Republican ideology, thinking that the level of aggregate holdings of which We talk has earned excessive Profits for a number of years already; the potential of Daddy having paid off the liabilities earlier in his career. I wonder if this state of well-being is worth protecting, especially as it is one of the few Revenue collections left to the Treasury. lgl