Thursday, April 14, 2005
More Fat-Cat Tax Breaks
More on the Bush administration's welfare to the rich:
The Republican-led House has voted to repeal the estate tax paid by the wealthiest Americans. Let's make this clear--this tax cut benefits only the richest of the rich, such as the Paris Hilton's of the world. Is it worth sending the US deficit spiraling even further to give tax breaks to those who don't need them?
"The nation can ill afford to give a handful of millionaires a permanent pass on inherited wealth. Although very few Americans pay the estate tax, repealing it would do serious damage to the federal deficit. The estate tax repeal would cost more than $1 trillion over the first ten years after the full repeal goes into effect in 2011 - on top of the accumulated deficits from other tax cuts and spending priorities. When the bill comes due for all this debt, rest assured it will be middle class Americans who are forced to pick up the tab for handouts to millionaires and billionaires."
Looks like the yellow dogs will be cleaning up after the fat cats once again.
The Right-Wing Way: Making Life Easier for Millionaires - American Progress Action Fund
The Republican-led House has voted to repeal the estate tax paid by the wealthiest Americans. Let's make this clear--this tax cut benefits only the richest of the rich, such as the Paris Hilton's of the world. Is it worth sending the US deficit spiraling even further to give tax breaks to those who don't need them?
"The nation can ill afford to give a handful of millionaires a permanent pass on inherited wealth. Although very few Americans pay the estate tax, repealing it would do serious damage to the federal deficit. The estate tax repeal would cost more than $1 trillion over the first ten years after the full repeal goes into effect in 2011 - on top of the accumulated deficits from other tax cuts and spending priorities. When the bill comes due for all this debt, rest assured it will be middle class Americans who are forced to pick up the tab for handouts to millionaires and billionaires."
Looks like the yellow dogs will be cleaning up after the fat cats once again.
The Right-Wing Way: Making Life Easier for Millionaires - American Progress Action Fund
