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08/19/2006 Entry: "Greed, hatred, stupidity, and where the money goes"

"In deference to both those positions, the Republican starting position would set the value of an estate excluded from taxation at $10 million, with a 15 percent tax rate for estates larger than that. The value of estates sold by their heirs would be calculated based on their worth at the time of their owner's death, rather than current law, which sets the gain in value of an estate at the cost of the estate's assets when they were first purchased.

"If the United States Senate came up with $10 million-per-person exemption and a 15 percent rate similar to capital gains, almost everybody in the small-biz community would be thrilled with that," said David K. Rehr, president of the National Beer Wholesalers Association.

But the cost of that would likely be almost as high as a full repeal, since virtually no estates would remain subject to tax."

If you have a $10+ million estate, you can probably afford to pay your taxes. And you should be ashamed of yourselves for trying not to.

"As many as 61,000 military widows whose husbands died of causes relating to their military service lose out on thousands of dollars a year in survivor benefits because of a law that dates from the 1970’s.

"Widows and retirees have spent decades trying to persuade Congress to change the law, which hits hardest at the widows of lower-ranking service members and is referred to by many critics as the “widow’s tax.’’

"The Senate passed such a change last year and again this year as part of the military authorization bill. But House Republican leaders oppose the change because of its steep price tag, nearly $9 billion over 10 years, Senate legislative aides from both parties say."
Where the money goes, Sisyphus Shrugged, August 19, 2006

Julia hits another one out of the park.

How have we kept greed, insanity and class warfare from tearing the country apart until now? Could it be our elected officials?

Representative Duncan Hunter, Republican of California and chairman of the House Armed Services Committee, does not support including the change in this year’s military authorization bill.

And all this in an election year. My my. If I lived in CA-52, I might be looking very hard at Mr. John A. Rinaldi, he's a guy with the right ideas on standing up for our veterans, universal healthcare and women's reproductive rights. I hope CA-52 rises up and elects him. I can't vote in that election, but I can raid the couch cushions and send some dough Mr. Rinaldi's way and encourage you to do so, too.

Posted by GM

 

 

 

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