I think not having the estate tax recognizes the people that are investing, as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.
This is clearly the attitude of the Republican-dominated Congress toward all who work for a living. It is the excuse of the elite to justify their obscene wealth: If you're not a millionaire, you are lazy and spend all your money on “booze, women or movies.”
Grassley really said that, in spite of the fact that the present estate tax only applies to estates worth $5.45 million or more that are passed on to surviving family members. The super rich, in other words. To get up to speed, read Ten Facts You Should Know About the Federal Estate Tax from the Center on Budget and Budget Priorities. It’s a PDF file that you can print out.
Grassley's message is that people who work for a living are chumps. That’s why the Republicans were able to pass an abominable tax bill that screws everyone but the 1%. If you voted for Trump, Grassley, or any other Republican, contemplate how you have been conned by some very clever propaganda artists for whom the truth is merely an inconvenience. Contemplate what you have done to yourself and your country. It ain't pretty.
Chump.
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