RUSH: This is a story here from the New York Daily News. Thomas DeFrank, fake news, fake journalist, Ministry of Truth for the ruling class. Headline: ‘George Steinbrenner Heirs Fortunate Expired Estate Tax Won’t Touch $500 Million Inheritance.’ Here is how the story begins in the New York Daily News. ‘Should George Steinbrenner’s heirs pony up a voluntary contribution to the government from their estimated $500 million windfall because the federal estate tax has temporarily lapsed? ‘It’s an excellent question,’ a smiling Secretary of the Treasury Timothy Geithner said Thursday. At a breakfast with reporters, Geithner also was asked how he felt about The Boss’ heirs cleaning up because of Steinbrenner’s July13 death — an extremely timely demise in the tax sense.’
They can write about it all they want. When I praised Steinbrenner for being a bold and great capitalist, illustrated in part by knowing when to die, look at the grief that I caught. And now here they are in the New York Daily News basically doing the same thing. Tim Geithner, Treasury secretary, ducked the question about Steinbrenner’s estate, but did say ‘he’s upset Congress hasn’t fixed the situation that denies the Treasury…’ listen to this. Geithner is upset. Here’s a man who’s never worked a day in his life in the private sector. Here is a man who has never met a payroll. (interruption) Oh, looky. Here’s the leader of the regime. What timing. He’s making remarks on the economy. We’re not gonna JIP it. We’re rolling audio sound bites on it. If there’s anything newsworthy or entertaining or funny or incompetent, or a combination of all, we will air it.
Geithner said he’s ‘upset Congress hasn’t fixed a situation that denies the Treasury billions in unpaid taxes from wealthy Americans who die this year.’ It’s not unpaid taxes. The tax rate’s zero. Nobody’s skipping out on taxes. The tax rate, the estate tax, the death tax is zero. Thomas DeFrank: Should George Steinbrenner’s heirs make a voluntary contribution to the government from their estimated $500 million? Is this what we’ve come to? The government’s now charity. The government is now charity. These people, ladies and gentlemen, we have got to dispatch them politically. They are the minority. We are being governed by a ruling class of egghead idiots who are a distinct minority in this country. Clinton kept the bake sale money. You know, this is back in the early nineties, Clinton takes office, and all these bake sales, these kids, we got a big national debt problem back there, which was nothing compared to what we have now, national debt, deficit, what have you. And these little grade school kids were doing bake sales, which today that means the parents went out and baked the baked goods, the kids took the baked goods to school, did the bake sale and the teachers were urging the kids to do this to resolve the national debt, to retire it.
So they’re raising $13 here, $14.25 here, and they sent the money to Clinton. And he kept it. He kept it, saying that this was good training, that this was an excellent way for these young people to look at their government and be civically responsible. Bake sales to reduce the national debt. So there you have it. George Steinbrenner’s heirs. You know what’s going to happen? They’re going to go after this retroactively. I wouldn’t be surprised if there’s a retroactive death tax. Once they start monkeying around with the tax code next year, a retroactive death tax back to 2010 to collect some of this money from the Steinbrenner estate. Clinton did it, retroactive tax increases starting in 1994.