Friday, June 23, 2006

A Look at Republican Priorities: Comforting the Comfortable - New York Times

A Look at Republican Priorities: Comforting the Comfortable - New York Times: "Two weeks ago, the Senate killed an effort to repeal the federal estate tax on multimillion-dollar fortunes. The 'no' votes were a stand for budget sanity and basic fairness. But the pro-repeal camp doesn't want to take no for an answer.

Yesterday, the House of Representatives passed an estate-tax cut that is a repeal in everything but name. The so-called compromise would exempt more than 99.5 percent of estates from tax, slash the tax rates on the rest and cost at least $760 billion during its first full decade. Of that, $600 billion is the amount the government would have to borrow to make up for lost revenue from the cuts, which would benefit the heirs of America's wealthiest families, like the Marses of Mars bar and the Waltons of Wal-Mart Stores. The remaining $160 billion is the interest on that borrowing, which would be paid by all Americans.

No lawmaker who voted for the compromise gets any points for moderation. Like the earlier full repeal bill, this one is unfair and grounded in intellectual dishonesty. The goal is not to pass good legislation, but to get this top priority for big-shot constituents nailed into law before the November elections produce a legislature that's more responsible on fiscal matters."

There's more about more tax cuts for the wealthy. They're shameless.


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