In a September 6th speech at the AFL-CIO convention U.S. Senator Bernie Sanders, a self-described socialist, called for an increase in the estate tax.

In 2014 up to $5.34 million of an individual’s estate may be exempt from federal estate tax with a 40% tax rate applied to any excess over this amount. If Senator Sanders gets his way the estate tax will range from 40% (estates of $3.5 – $10 million) to 65% (estates of $1+ billion).

At the low end rates remain unchanged. However the level at which the tax kicks in is lowered meaning more people will be subject to the tax. At the high end rates will rise by more than half. Yup, more than half!

In July 2012 President Obama speaking in Roanoke, VA said, “…look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own…If you’ve got a business – you didn’t build that. Somebody else made that happen.”

Open mouth, insert foot.

Therefore in an attempt to deflect attention from the argument that government seeks to attack and penalize success Senator Sanders enlisted former U.S. Department of Labor Secretary Robert B. Reich who said America “is creating an aristocracy of wealth populated by heirs who don’t have to work for a living yet have great influence over how the nation’s productive assets are deployed.” He added, “(the proposal) is a welcome step toward reversing this trend.”

Hmmmm…something smells funny. In fact it downright stinks. As we wrote in our January 30th “Tips for Watching Super Bowl XLVIII” blog post the idea of equality in a competitive system is preposterous. What’s more if we ignore this basic fact and focus on Bob Reich’s idea of those who “have great influence over how the nation’s productive assets are deployed” then maybe we should open the discussion about the approximately 45% of Americans who do not pay income taxes yet are permitted a vote.

When can we end the rhetoric and politicking in favor of intellectual honesty?