The Waltons Will Be OK ...

[Buxtehude]

Does anyone really understand the Estate Tax, and how few people it actually effects. I got this letter in my e-mail I hope it was okay to post it in it's entirety.

The Waltons Will Be OK ...

... the Wal-Mart heirs, that is. But millions of other Waltons, Jones, and Smiths may not.

If Senate leadership has its way, American inequality is about to take a giant step forward with efforts to repeal or gut the estate tax. Never mind it's been in place for nearly 100 years, is a substantial source of government revenue, and has been a major catalyst to charitable giving. And it only affects the wealthiest half of 1 percent of Americans - most family farms and small businesses are exempt. http://go.sojo.net/ct/-7ziVAF1tzIk/

A repeal of the estate tax will cost an estimated 1 trillion dollars in federal revenue over the next 10 years, substantially increase the deficit, dramatically diminish the resources available to help low-income families escape poverty, and further increase the pressure on the budget from the high cost of war.

Make a call to preserve the common good! Tell your senators to oppose repeal or drastic cuts in the estate tax!

Call toll-free, 1-800-459-1887*, now!

Here's the message: Please tell Senators McConnell and Bunning to vote against any motion or bill to repeal or drastically cut the estate tax. The Senate should not bring up such a vote because we cannot invest in the common good if we hand hundreds of billions of dollars to a tiny number of millionaire heirs.

Use the toll-free number above to reach the U.S. Capitol switchboard and ask to be connected to your senator's office. (The person at the switchboard can figure out who your senators are if you're not sure).

+ See how many estates paid the estate tax in 2004.
http://go.sojo.net/ct/-pziVAF1tzI9/
* The toll-free number is provided courtesy of the American Friends Service Committee which has launched a budget campaign, http://www.afsc.org/economic-justice/sos/. AFSC welcomes groups to circulate and use the toll-free number in support of nonpartisan budget goals and without linking the alert to a Web site soliciting donations or actions which may be used to support partisan lobbying or work.

+ Share this issue with your friends

[Kahuna]

1. Oops! I thought you were talking about John-Boy and Sue Ellen.

}(

[Jeffersons Ghost]

2. you need a 5th vote here k&r

[Buxtehude]

8. Thank ya kindly n/t

[checks-n-balances]

3. One problem: Sojo forgot to identify it as "The So-called Death Tax"

Most people don't know that it's the same thing. I like it when people point out the false "Death Tax" moniker since it shows what a GOP/Orwellian ploy it is.

Thanks, by the way, for starting this thread...

[Canuckistanian]

4. I forgot about the charitable donations

So, all those bequests to charitable organizations helped defer the estate tax?

That's going to mean a drastic reduction in major charity donations.

[Virginia Dare]

5. This legislation is largely being financed by a few families

I posted about this sometime ago. If this isn't a major scandal I don't know what is. But as usual the "media" ignores it. Wonder why?

http://www.citizen.org/pressroom/release.cfm?ID=2182


:think:

[PA Democrat]

6. Yes. The 18 families who are funding this stand to save $71 billion

To borrow from Ronald Reagan, I think the Waltons are the true "welfare queens". By lowering wages and slashing benefits, they have transferred their costs onto the taxpayers when their full-time employees qualify for food stamps, low income housing, and the CHIPS program for uninsured kids.

The Waltons alrrady had their taxes on dividend income slashed and now they want their heirs to reap the benefits of their corporate welfare tax free.

[Virginia Dare]

7. Exactly, and we wonder why the media doesn't bring this to our attention?

"Tonights news is brought to you by......Wal-Mart, Always Low Prices, Always!"

:mad:

[Buxtehude]

9. I know.

It's ludicrous to even have a 2 million dollar cap. They don't realize how that plays to someone who's doing good to make $40,000 annual.