Thursday, June 01, 2006

EstateTaxRepeal: GOP prays at lucre alter


Oh sweet Jesus, how that no- talent Paris Hilton strangely makes me want to hurl and feed her a weight-gain shake all at the same time. And oddly enough, a new commercial from Public Citizen & United for a Fair Economy just started airing in the Cleveland area this wk that shows a Paris look alike reaping the rewards of permanently repealing the Estate Tax. Then, a new Nation article appears that asks if we the average working people think that the Hiltons, Cheneys, Waltons, and Rumsfeld all desperately need YET another tax break? Well, 18 hyper-rich families and Sen Jon Kyl (R-AZ) thinks so: "The Senate is scheduled next wk to take up legislation by AZ Republican Sen Kyl that would permanently repeal the estate tax on the wealthiest Americans. If enacted, Kyl's bill would plunge the govt another trillion dollars into the red during the first decade (2011-2021) that it would be in effect." Oh, and where exactly will that missing money come from? From average WORKING Americans. And which Dems are on board w/this shite? MT's Max Baucus, whom the GOP is counting on to bring roughly a half-dozen Dems along w/ him to reach the magic number of 60 votes required to overcome any filibuster. I think we should contact ALL Dems here and let 'em know how we feel about any that become Vichy Dems and chose to stick that knife into our backs. And how much would the uber rich save? Estate tax repeal would save the estate of Cheney between $13 to $61 million, according to the publicly available data on his net worth. It would save the estate of Rumsfeld between $32 to $101 million. The estate of retired Exxon Mobil chairman Lee Raymond would pocket a cozy $164 million. As for the late Sam Walton's kids, whose company already makes taxpayers foot the bill for the medical expenses of 1000s of its employees, the cost to the govt for not taxing their estates would run into the multiple billions. Perhaps Sheldon Cohen, former Commish of the IRS put it best when he said: "The estate tax has been w/ us for 90 yrs, brings in fairly large amounts of revenue at fairly low cost, and affects less than 1/3rd of 1% of the population. Why would we change this?"
Posted by Tina :: 12:27 AM :: 4 Comments:

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