The Poor And Their Pesky Inheritance Tax
Posted at 8:53 am on Friday, August 4, 2006, in Uncategorized.
This has to be a candidate for quote of the year…
Senator Kay Bailey Hutchison, Republican of Texas: “We are turning our back on the middle-class and poor people in this country who depend on the minimum wage and death-tax relief.“
Oh yes, the poor people are just waiting for their inheritance. (It is too bad their millions will then be taxed.)
(The death tax is the GOP phrase for the estate tax, which “for a person dying during 2005, an estate with a value less than $1,500,000 would not pay a federal estate tax and most likely would not have to file a federal estate tax return. The applicable exclusion amount increases to $2,000,000 for decedents dying in the years 2006, 2007 and 2008. The amount increases to $3,500,000 for 2009.“)
No related posts.
August 7th, 2006 at 1:34 pm
the trick is convincing the poor that they are going to be super-mega rich by the time they have been worked to death… it’s the american dream, apparently.
August 7th, 2006 at 2:02 pm
A reality show in the making; it’s right up Fox’s alley.