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Monday, June 05, 2006

Stop the Trillion-Dollar Giveaway to the Rich

The Estate Tax The Bush Administration is just not going to give up trying to pad the pockets of the rich.   This call to action is needed to let your lawmakers know that you are not pleased with the way tax breaks are doled out to the top 4% of Americans and the rest of us get shafted.   Take the time to let your voice be heard.   - fc
Keep The Estate Tax
Keep The Estate Tax

Conservatives in the Senate are pushing to permanently repeal the estate tax in a vote next week -- an action that will cost the U.S. Treasury more than $1 trillion over the first ten years, and provide benefits only to the wealthiest of the wealthy in our society. Haven't they benefited enough from President Bush's previous tax giveaways for the rich?

First, some facts:
  • The estate tax currently has an exemption of $2 million per person ($4 million per couple) -- meaning that only five out of every one thousand people will ever be subject to the tax. With the exemption already set to rise to $3.5 million per person by 2009, the Congressional Budget Office has calculated that the overwhelming majority of farms and small businesses will not be taxed.
  • Who is pushing for this repeal? 18 super-wealthy families, who are looking to cash in on a potential windfall of $71.6 billion.
  • Who else will benefit? People like Exxon CEO Lee Raymond, who will get a tax break of $160 million. Vice President Cheney will save between $12 million and $60 million. President Bush will also do pretty well, with a tax break somewhere between $787,000 and $6.2 million.
The Bush Administration's reckless fiscal management, combined with irresponsible tax cuts passed by a Republican congress, have saddled us with a national debt that is spiraling out of control. Each American baby born these days comes into the world already almost $28,000 in debt. Is this enormous birth tax fair to future generations of Americans?

Senator Kyl, Republican of Arizona, is floating a dangerous "compromise" proposal that will cost the Treasury nearly the same amount, and still concentrate its benefits on the wealthiest of estates. This proposal needs to be defeated as well.
Dear Senator,

I'm writing to strongly urge you to vote against permanently repealing the estate tax, and also to vote against the so-called "compromise" proposal being floated by Senator Kyl.

It's morally repugnant to me that you would consider giving even more tax breaks to the super-wealthy. You and I both know that with the current and future exemption limits, very few farms and family business -- according to the CBO, less that 200 total across the nation -- will be subject to this tax.

The height of fiscal irresponsibility would be passing an even larger debt on to our children. By the time you read this, the birth tax will have exceeded $28,000 per American baby. What kind of legacy will we leave for future generations if this number keeps spiraling out of control?

I look forward to your reply on this very important issue, and I will be watching very closely to see how you vote.

Thank you for your time and attention to my letter.




  • Point is though, it's their money, not the government's. What gives any government the right just to take your money because they've decided you have too much?

    By Blogger Marie, at 6/06/2006 2:32 AM  

  • All I have to say is Flat Tax. Same tax for every Man, Woman, and Corporation.

    The elimination of overhead alone would bring in billions.

    By Anonymous Ryan, at 6/06/2006 9:54 AM  

  • Why are you in favor of taxing money that has already been taxed to death? The government works for the people, not the other way around! Or perhaps you like being a puppet of big gov? Sucker!

    How much money do pay in taxes? Why pay more for stupid programs that do zilch for anyone? Does it make you "feel" good? Pathetic!

    The reality is that those programs are bureaucratic disasters that only keep people down and dependent. That's what democrats want!

    By Blogger OTTMANN, at 6/09/2006 3:34 PM  

  • Marie,

    The liberals don't carew if it is their money, they just want it and don't care if it is fair or not. The only time they will care if it affects them for the first time and then these people will scream bloody murder.

    By Blogger Jon, at 6/11/2006 3:17 PM  

  • Great point Ottoman.

    By Blogger Jon, at 6/11/2006 3:18 PM  

  • Interesting that people rant and rave about how the "government" is "wasting" their money on "useless" programs -- until they themselves are in need of those programs. Then they rant and rave about how, "I pay taxes! Where are my services?"

    You get what you pay for, kids. You want "useless" things such as roads, an educated population, infrastructure? Those things cost money. Where does "the government" get money to buy the things that the citizens want? From the citizens. That's how our system of government works.

    By Anonymous Things That Ain't So, at 6/12/2006 1:46 PM  

  • The tax never should existed in ther first place, but thanks to Slick Willie Clinton and his attempt to balance the budget on the backs of the wealthy. It is about time the Congress do what is right and stop trying to rape the rich just to give it away.

    By Blogger Jon, at 6/17/2006 1:18 PM  

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