SUPER-RICH AVOID ALL ESTATE TAXES IN 2010

A Supreme Court justice once said he could not define pornography but knew it when he saw it.  I think I have seen quite a bit of it.  For instance, if you just look at the forty or so volumes of the U.S. Tax Code, you will notice that obscenity abounds.  Consider this for X-rated:   Right now, in the year 2010, we have millions and millions of poor mothers and children who are unable to obtain even a modicum of assistance through the obscenely mean spirited Temporary Aid to Needy Family (TANF) program while at the same time very rich people can leave everything to their heirs who will not be taxed one penny for their inheritance.

For instance, a billionaire by the name of Dan L. Duncan died in late March and left an estate worth about $9 billion to his children.  His wife received several hundred million dollars worth of stock and his ranch.

Mr. Duncan could do this because of a section in the Bush sponsored tax bill that eliminated estate taxes altogether for the year 2010.  The Democrats, who control Congress, don’t seem to be overly incensed about this state of affairs.  We will probably lose as much tax revenue from this gift to the rich as the Federal government appropriates to the TANF program, which is $11 billion – a large part of which pays bureaucrats to make it nearly impossible for poor mothers to get any aid at all.

Dan L. Duncan Liked to Hunt and Kill African Wildlife