Jun 2, 2006

Talk about wingnuttery

Of all the problems the country faces, the Republicans decide that cutting more taxes for millionaires is the best answer.

Gutting the estate tax only helps those who need none, at the expense of everyone else.

...Health care funding is being slashed, education money is lacking, and the most important issue for the Senate is... dropping taxes on a millionaire's inheritance?

Senate majority Leader Bill Frist (R-TN) wanted to hold a vote to repeal the estate tax last fall. Because of Hurricane Katrina, however, it was thought unseemly to pass yet another tax giveaway and add nearly a trillion more dollars to the deficit. Now they're back at it, though. A vote to either repeal the tax outright or else "reform" it to near extinction is planned for next week.

The issue could not be more clear-cut. The estate tax causes no one any hardship - no one even pays it unless they have more than $2 million in assets (99% of estates are not taxed at all). But erasing that tax revenue would cost our country nearly $1 trillion over the first ten years. That would cause plenty of hardship. Already we have deficits projected as far as the eye can see, and Congress is considering cuts in important programs ranging from Medicaid to education to food stamps.

Source: Take Action: Tell your senator to oppose another millionaire giveaway.

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