Contrary to yesterday's tongue in cheek post, (which was numerically honest) any repeal of the estate tax must be stopped, and Senator Kyl's cynical compromise must also be rejected.
- Repealing the estate tax completely would deprive the government of 1 trillion over ten years. Kyl's compromise would cost $500-600 Billion.
- It affects less than 1/3 of 1% of the people in the U.S.; but it is this small percentage who have hijacked our government. (86% of campaign contributions were made by less that 2/10 of 1%)
- Although they have said that it must be repealed to save the family farm, neither the Republican party nor the American Farm Bureau have ever identified a single farm lost under the current program. They also say that it disproportionately harms black Americans, but again, has no evidence.
- Only 23% of the country supports repealing the tax. This is doubtlessly the same group who believe in Saddam Hussein's involvement in 9/11.
- This version has been in effect for 90 years, proposed by the Republican and Conservationist Teddy Roosevelt. The first version was in 1797.
- Reasonable Rich people do not approve of repeal. These include Bill Gates Sr and Warren Buffet. Steven Rockefeller calls the idea "fiscally irresponsible and bad social policy."
The Bush administration and Congress's push on this is simply further proof of greed and corruption that are the only values valued by today's Republican party.
Spearheading the eighteen families that are financing the propaganda machine that is driving this is the Walton family. Each of the four who inherited the Wal-Mart estate is worth 15 billion dollars, according to Forbes magazine.
Norway announced today that it was selling all the stock that it's oil fund owns in Wal-Mart, "because of what it called "serious and systematic" abuses of human and labor rights." USA today reported that:
The ministry said the council had found "an extensive body of material" that indicated Wal-Mart had broken norms, including employing minors against international rules, allowing hazardous working conditions at many of its suppliers and blocking workers' efforts to form unions.
Repealing the estate tax would be morally reprehensible.