Regarding the new GOP tax plan which shuffles billions of dollars from working Americans to the top one-half of one per cent.
“I think not having the estate tax recognizes the people that are investing,” Grassley told the Register. “As opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”
I am not sure if this is true so I interviewed 2 people. One is a billionaire heiress to a real estate fortune who shall remain anonymous. I shall call her Ivania. The other is a shmuck who worked in factories, sweat shops and as a teacher for over 30 years. I will call him Joe the Shmuck.
Me: Hello, Ivania. Congratulations on receiving a massive inheritance allowance and other tax breaks in the new tax bill.
Ivania: Thank you. No one deserves it more than me.
Me: So, how many jobs do you intend to create with this new found wealth ? Do you feel that you that have earned this windfall?
Ivania: Oh, yes. I have had to work very hard being born into just the right family. It is not easy being wealthy. For example, do we cater in Lobster Newberg or Filet Mignon tonight? Do we open the bottle of “Moet and Chandon Dom Perignon” or the “Boerl and Kroff Brut Rose” ? Would you have any idea which to serve? Commoners just don’t understand the intense pressure I am under.
Me: I see. Back to my question. What do you intend to do with this multi-million dollar windfall? Will you invest it in new jobs in America?
Ivania: Of course. My investment advisor has already begun adding to my investments. I have created thousands of jobs already in my tote bag and high heel shoe factories.
Me: But aren’t those factories in China? And Vietnam?
Ivania: Well, yes. But there is a trickle down effect. Eventually, as we create jobs in China and depress wages in the US, we will be able to bring back jobs to this nation I love so dearly. American commoners must be able to compete with the wages we pay in China. We hope to someday get those wages on par with each other. Right now it is those unions that prevent us from creating more good jobs in the nation I love.
Me: OK. So, you won’t be investing in the USA, is that the bottom line.
Ivania: (chuckling) I got mine. That is the bottom line. Did I mention how much I love America?
So, after this rather unsatisfying interview I found Joe the Shmuck, retired factory worker and teacher.
Me: Hello, Joe the Shmuck. Can I call you Joe?
Joe the Shmuck: I have spent my entire adult life working for a living and paying my taxes. You can call me Shmuck.
Me: OK, Shmuck. Senator Grassley has made the comment that people like you will just take any tax break and spend it on women and booze. What is your response?
Shmuck: DUH. Of course we will. He is correct.
Me: WOW! So you admit that you will spend any tax breaks on women and booze? Really?
Shmuck: I have in the past, why change now? What choice do I have?
Me: Explain to me then why you should get a tax break if you will just spend it on women and booze?
Shmuck: Look, I worked two jobs most of my life. At least 8 hours a day. Some days 12 hours or more. I have worked in factories, day labor, teaching and coaching and advising students. All for pretty meager wages. So, what do you think? I am not going to come home and have a beer? Of course I spend my money on booze. Wouldn’t you?
Me: Well, ok. but what about spending all your money on women?
Shmuck: I have a wonderful wife and a wonderful daughter. Unfortunately they are money pits. I mean, who needs more than 2 pair of underwear? Women, that’s who. Who needs to get their hair done? Women, that’s who. Not to mention quality food, clothes and thousands of other items the uses of which completely escape me.
Let’s talk about dental bills and braces, shall we? And schools class trips? And second cars? And dogs and all those expenses? And Xmas gifts? And tuition and fees?
Me: I am not sure that was what Grassley was referring to…
Shmuck: Well, anyone who has a wife and daughter (or husband and son for that mattter) knows what I am talking about. So Grassley is right. All I will do with any tax break is invest in goods and services right here in the US…wait…does that make me an investor?
Me: Sorry. Investors only invest in China. You worked . You supported your family. You drink beer. You are what we call…uh… shmuck.