danmillerinpanama:

I have a strange suspicion that, if we go over the “fiscal cliff” due to “Republican intransigence” and some “middle class taxes” go up for that reason, few will notice, fewer will lucidly point out and the “ethical” media will not bother to report that many unrelated taxes and expenses also just went up and that more will do so shortly thanks to ObamaCare.

If President Obama’s splendid negotiating skills force the rich Obstructionists to back off, he will get credit for saving the impoverished middle class, punishing the fat cats and providing great medical care. If Republican intransigence is too powerful and he fails, the Republicans will get the blame for all tax and other increases imposed for whatever reason, and that will be fine for President Obama too.

It’s great to be The King.

Originally posted on Political Musings-At the Sunset of My Life:

George willIf you have worked hard for five decades, made pots of money and now want to squander it all in Las Vegas on wine, women and baccarat, go ahead. If, however, you harbor the antisocial desire — stigmatized as such by America’s judgmental tax code — to bequeath your wealth to your children, this would be an excellent month to die. Absent a congressional fix before Jan. 1, the death tax, which is 35 percent on estates above $5 million, reverts to 55 percent on those above $1 million.

This is one of many tax changes that could be triggered. The Hoover Institution’s Tammy M. Frisby, writing in Policy Review, says that — not counting temporary disaster-relief tax breaks — 31, 56 and 37 provisions of the tax code expired in 2010, 2011 and 2012, respectively. “The country,” she says, “is trying to create sustained economic growth using temporary…

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About danmillerinpanama

I was graduated from Yale University in 1963 with a B.A. in economics and from the University of Virginia School of law, where I was the notes editor of the Virginia Law Review in 1966. Following four years of active duty with the Army JAG Corps, with two tours in Korea, I entered private practice in Washington, D.C. specializing in communications law. I retired in 1996 to sail with my wife, Jeanie, on our sailboat Namaste to and in the Caribbean. In 2002, we settled in the Republic of Panama and live in a very rural area up in the mountains. I have contributed to Pajamas Media and Pajamas Tatler. In addition to my own blog, Dan Miller in Panama, I an an editor of Warsclerotic and contribute to China Daily Mail when I have something to write about North Korea.
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One Response to

  1. Boeke says:

    Is this about the inheritance tax? I believe the threshold amount is $5million, which should be enough to endow children without providing a more glorious memorial to ones accomplishments.

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