The Estate Tax
Krugman’s got an article on the latest push to further establish a new gilded age. A fuedal society where only the Waltons and Hiltons and Rockefellers have the means and the rest of us plebes work for the benefit of those worthless sacks of flesh.
The Senate almost voted to repeal the estate tax last fall, but Republican leaders postponed the vote after Hurricane Katrina. It’s easy to see why: the public might have made the connection between scenes of Americans abandoned in the Superdome and scenes of well-heeled senators voting huge tax breaks for their even wealthier campaign contributors.
But memories of Katrina have faded, and they’re about to try again. The Senate will probably vote this week. So it’s important to realize that there’s still a clear connection between tax breaks for the rich and failure to help Americans in need.
Any senator who votes to repeal the estate tax, or votes for a “compromise” that goes most of the way toward repeal, is in effect saying that increasing the wealth of people who are already in line to inherit millions or tens of millions is more important than taking care of fellow citizens who need a helping hand.
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Who would benefit from this largess? The estate tax is overwhelmingly a tax on the very, very wealthy; only about one estate in 200 pays any tax at all. The campaign for estate tax repeal has largely been financed by just 18 powerful business dynasties, including the family that owns Wal-Mart.
Once again, the procedural vote will be the important one. If the vote for cloture succeeds then the bill will surely pass at an estimated cost to we, the People, of hundreds of millions of dollars. All for the benefit of herpes-infested nothings and antisemitic goons and messianic, prudish, sanctimoniously evil poverty profiteers.
This pandering to the base by the GOP is almost as sickening as the blatantly transparent bullshit W (et.al.) is spouting about supporting a Hate Amendment to the Constitution (side note: seriously, how mouth breathingly stupid are the bigots who vote GOP? Every 2 years, they pull out the same bigoted, nativist, mouthfrothing hate agenda as if they’re going to do something about it, and every 2 years these undead zombies pull the lever. And yet… nothing is ever done. Along with being hateful and inhuman, they’re all dumber than a bag of rocks.)
There are more than a couple senators and ’08 wannabe preznits who will vote for cloture and then against the bill on the full Senate floor. This is what Biden and Lieberman (among others) did on the execrable bankruptcy bill, and what Cantwell and Lieberman (among others) did on the scAlito nomination. This is what McCain will do. I’m sure Lieberman will right there with him.