Thread by @dcpetterson

GOPer Tax Deform bill includes repeal of the Brat Tax.
This is a tax on estates over $10mil inherited by rich kids who never have to work.

Yeah, rich brats need another tax break. Riiiiiiight.
What is the effect of NOT having a Brat Tax?
2/

The effect is that more and more wealth becomes concentrated in the hands of fewer and fewer families.
3/

In other words, NOT having a Brat Tax leads to feudal oligarchies, as sure as feeding a cat leads to catshit.
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The whole purpose of inheritance taxes is to AVOID feudal aristocracies.
The whole purpose of repealing them is to create one.
5/fin

PS. GOPer Tax Deform also includes repeal of tax deduction for mortgage interest. This makes home ownership more expensive. Why do this?

Home ownership is one of the factors that was instrumental in creating the American middle class. It formed a way of letting poor and middle

class people pass some wealth (their homes) on to their kids. This allowed non-rich people, generation by generation,

to begin to accumulate wealth into families that had never had any wealth at all. Repealing the mortgage tax deduction is an intentional

attempt to make it more difficult for middle-class families to be created and to survive. Worse, with the advent of "reverse mortgages",

the blanking class is trying to destroy what wealth currently exists in middle-class homes. The upshot of all this is obvious.

GOPers are trying to warp America into a neofeudal state where wealthy oligarchic families rule over a dirt-poor peasantry.