GOP passes massive tax break for millionaires, billionaires

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  • #9657
    Andy Brown
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    I don’t think anyone here will be surprised about this if you haven’t yet heard.

    The House voted Thursday to repeal the estate tax, a longtime priority of Republicans that also spurred Democratic charges that the GOP is in the pockets of the rich. […]

    The White House has threatened to veto the measure, and the bill does not appear to have the 60 votes necessary to break a Democratic filibuster and get through the Senate.

    But what is worth mentioning, given that this is just another piece of House legislation that is going nowhere, is that when describing Republican tax proposals, it’s not uncommon to talk about policies that disproportionately benefit the very wealthy. GOP proponents will say a bill benefits all taxpayers, but they’ll brush past the fact that the rich benefit most. This, however, is altogether different – this bill, called the “Death Tax Repeal Act,” quite literally benefits multi-millionaires and billionaires exclusively.

    It’s not an exaggeration to say House Republicans, en masse, voted for a $269 billion giveaway to the top 0.2%. Under the plan, GOP lawmakers, who occasionally pretend to care about “fiscal responsibility,” would simply add the entire $269 billion cost to the deficit, leaving future generations to pay for a massive tax break for the hyper-wealthy.

    http://www.latimes.com/opinion/op-ed/la-oe-0415-eichelberger-taxes-20150415-story.html

    #9663
    missing_kskd
    Participant

    Well, they are consistent.

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