The Least, First

Monte Asbury's blog

Senators Kyl and Lincoln propose cuts in multi-millionaires’ estate taxes

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UPDATE, April 4: “As the New York Times explained, under Obama’s budget, ‘99.8 percent of estates will never — ever — pay a penny of estate tax.'”


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Jesus’ take on things includes the idea that the rich can help themselves and the poor deserve the help of all of us. That view, espoused by many teachers, has become Government Morality 101 for Christian and non-Christian alike through the centuries: hence, most Americans today believe in progressive tax rates.

The rich have their champions, too. Two senators—one a retirement-state Republican and one a Wal-Mart-headquarters-state Democrat—have proposed relieving the nation of $250 billion to help adult kids of the very rich enjoy wealth without work:

clipped from thinkprogress.org
Sens. Jon Kyl (R-AZ) and Blanche Lincoln (D-AR) have offered a $250 billion proposal to cut estate taxes for the children of multi-millionaires
Kyl and Lincoln’s “most pressing issue is clear: America’s wealthiest families need help. Now.”
“only 0.2 percent of the additional cost of the proposal, relative to [the Obama proposal], would go toward tax cuts for small businesses and farms.”
The rest of the cost, approximately $249.5 billion, would go to the inheritors of estates worth over $7 million. Paris Hilton, get excited.
The Waltons — the Arkansas-based family that founded Wal-Mart — are one of the key groups financing the campaign
“With all the serious work before Congress, it is a colossal waste of time to have to rebut the false claims and warped premises of ardent estate-tax cutters,” the NYT writes. “Ms. Lincoln’s and Mr. Kyl’s colleagues in the Senate should make short work of it and move on to urgent matters.”
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I’m sure this will be pitched as a valiant, virtuous war of liberation against the “death tax,” but we’re talking about $7 million estates and up, here, not Grandpa’s 120 acres. And the years of Bush have given us the greatest disparity between rich and poor since the Great Depression.

Moving government income sourcing away from those who can effortlessly afford it and onto the backs of those who earn less is ethically questionable, especially in times like these. And inviting the very rich to create a generation that need not work while those who work for them can’t afford healthcare (with the Waltons, ironically—heirs of America’s largest low-benefit employer—leading the charge) ought to offend us.

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