(Center for Vision and Values) -- “Hillary Clinton Proposes 65% Top Rate for Estate Tax” blared a headline in The Wall Street Journal. Since the current top statutory tax rate on estates is 40 percent, Clinton’s proposal is nothing if not audacious. I can’t recall Barack Obama, our most leftward president, ever calling for a 62.5 percent increase in tax rates for the rich.
Going after inheritances and estates is textbook Marxism. That is not an exaggeration. The third plank in Karl Marx’s 10-point platform for achieving socialism through democratic means—see his 1848 textbook to communism, “The Communist Manifesto”—was the abolition of inheritances. To repeat: it was point three in Marx’s 10-point plan.
For a long line of communists and socialists, the animus against inheritances has both an economic and a sociological purpose. Economically, the tax is part of the overall Marxian/socialist war against private property. Sociologically, Marx sought to weaken if not eliminate the traditional nuclear family. Clinton and her progressive allies have recently succeeded in weakening the traditional family by redefining marriage, and so it comes as no surprise now that she is extending the battle against families to the economic front by seeking more confiscatory taxes on the estates of families.
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