Hung around all day yesterday but didnt see this diaried. I love Al Kamen's In the Loop column in the WaPo and he had an interesting one yesterday. I think it nicely explains the selfish reasons why this administration is hellbent on repealing the estate tax.
http://www.washingtonpost.com/wp-dyn/content/article/2005/07/26/AR2005072601697.html
Quote and comment on the flip -
But it turns out the CBO study is fatally flawed, largely because its definition of "farmer" is so restrictive. In fact, the CBO does not even take into account numerous Beltway Farmers, those hardworking people who toil in the hot sun right here.
For example, there's President Bush . Bush, who works months clearing brush on his farm, has a net worth of between $3 million and $13 million based on his disclosure forms. Unless the Senate acts this week, Bush's heirs are looking at a tax of between $800,000 and about $6 million, according to some back-of-the-envelope calculations provided by Rep. Henry A. Waxman (D-Calif.).
And that's nothing. Defense Secretary Donald H. Rumsfeld would get positively hammered on his estate, estimated at between $59 million and $185 million. His heirs could pay as much as $101 million in taxes.
Repeal of this evil tax could save the Bush, Vice President Cheney and 11 Cabinet members (some don't have enough to owe tax) as much as $344 million, by Waxman's calculations.
Why is this important? Democrats are class warriors? This is Republican bullshit attempts to establish a permanent overclass! And one dominated by the likes of the Bush family and (gasp!) the Hilton family? How many more Paris' do we really need? I am disgusted that the media and the public have been bamboozled by this one. Less than one percent of Americans are affected by this tax, yet they so willingly go along with it. I think that this little snippit needs WIDE circulation. Maybe that will put to rest that canard that Democrats are "class warriors". Its obvious who the class warriors are - and they are beating the crap out of us po' folk.