Microsoft co-founder Paul Allen died on Monday, leaving behind a net worth of $20.3 BILLION. While I’m sure that his family and co-workers are saddened by his passing, those most disappointed are Socialists like Senator Bernie Sanders and likely-Congresswoman Alexandria Ocasio-Cortez–who will see another mega-billionaire not have to pay his “fair share” despite being dead.
The current top estate tax rate in the US is 40%–a pretty good punishment for trying to pass on your wealth to your relatives. Sanders during his run for President wanted that raised to 65%–meaning the Government would take away 2/3rds of everything you own when you die. That money was going to pay for his Medicare For All program. Or was it going to pay for the Free College Tuition For All program? Or maybe he was using it for the Free Child Care For All program. Or maybe that money was going to the expanded Social Security Benefits For All. It’s hard to remember because Bernie promised to spend the same money over and over for a lot of things.
But let’s consider the nightmare scenario on the horizon as growing numbers of milennials and other young voters see Socialism as a viable economic system for this country. With the passing of Paul Allen, the Government would cash in 14-billion dollars–if the Allen estate was somehow able to liquidate all of the assets within the next tax year. Add to that the taxes that would be paid on any capital gains and this little windfall by death just keeps getting better!
But what if the Allen family couldn’t find buyers for all of the assets? Well then, Uncle Sam would become the owner of 65-million shares of Microsoft. They would also become the majority owner of the Seattle Seahawks NFL team and the Portland Trailblazers NBA franchise. That would actually be a better proposition for the Socialists–as Allen’s death would provide just a one-time payment–but having ownership of private enterprises provides a long-term cash stream.
The Socialists have to be kicking themselves for not getting an earlier start on their American takeover. Bill Gates, Warren Buffett and Steve Ballmer are all around the same age as Paul Allen–and in Buffett’s case much older–and their billions would all become available for the pillaging soon. If only HIllary Clinton hadn’t struck that deal with the Democratic National Committee to shut Bernie Sanders out of the process in 2016! Oh well, maybe Jeff Bezos will make it another 40-years and they can take back all of the cash the millenials gave him while putting the rest of the retail segment out of business.
