Think Progress: "One of the biggest culprits in this looming fiscal train wreck: permanent repeal of the estate tax. According to the latest estimates, repealing the estate tax will cost over three quarters of a trillion dollars in the next decade (2012-2021) even without additional interest costs.
Knowing it’s an enormous price tag for something that will only benefit the wealthiest 0.5% of estates, some Senators have started shopping alleged “compromises.” Unfortunately, these compromises are about as bad as repeal. One discussed by Senate Finance Chairman Chuck Grassley would cost nearly 85% as much as eliminating the tax altogether.
It will take a lot of work to get the country back the right fiscal track, but ensuring responsible reform of the estate tax wins out over a reckless giveaway to our wealthiest estates is a good start."
2 comments:
Blogger is doing it to me again. Can't post now. Haven't been able to all day. Working on it.
This is weird. Same thing happened the other day. I can't post. Then I post a comment griping about not being able to post and suddenly I can post. Wake up Homeland Security! Don't tip your hand that easily (said the paranoid, cutting his left and right).
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