Spitzer: 6,600 families may get $25 billion gift

[somone]

http://parkerspitzer.blogs.cnn.com/2010/12/13/spitzer-6600-families-may-get-25-billion-gift/

Spitzer: 6,600 families may get $25 billion gift
Posted by Eliot Spitzer

Today's NUMBER OF THE DAY is $25 billion

That’s the cost of lowering the estate tax from 45% (and exempting inheritances under $3.5 million—the provision in the House bill) to 35% (and exempting estates up to $5 million—the provision in the compromise bill the Senate will vote on today).

That’s a $25 billion gift going to a mere 6,600 families who will benefit from the change — and a $25 billion increase to the deficit.

In total, the estate tax, which was initially set to be restored in 2011 at a rate of 55%, will cost $68 billion.

Just to put it in perspective, the additional $25 billion is six times what we’re spending on Race to the Top and three times what was allocated in the stimulus to build high-speed rails.

To top it off, we’re going to borrow the money – a lot of it from China.

[ipaint]

1. Contrast that to the tax increase for the working poor

which Obama was apparently powerless to stop. :banghead:

[midnight]

2. That’s a $25 billion gift going to a mere 6,600 families who will benefit from the change

That’s a $25 billion gift going to a mere 6,600 families who will benefit from the change — and a $25 billion increase to the deficit.


That is what this tax bill is about. A mere 6,600 families trump the rest of the families who can't find jobs, afford health care, and many homeless. So to finance the life styles of these families our country will borrow from china. Talk about a national security risk... But they are all to busy scanning us as we move around our own country as if we are the criminals....

[bobbolink]

3. Dupe because in big black letters it told me WARNING, didn't post.

:wtf:

[KansDem]

4. Well, won't they reinvest this gift in America?

Growing businesses and industries that will create jobs?

That's what they'll do, isn't it? Huh? Huh?

[bobbolink]

5. It's easily rectified by taking away all poverty programs.. food stamps, subsidized housing,

Medicaid, etc.

We poor folk will gladly offer ourselves up for sacrifice on the altar serving the Rich Assholes who can pass their fortunes on unmolested.

It's "Change we can believe in".

Thanks, Barack... you've convinced us to have "hope".

[valerief]

6. Well, I'm sure they all earned it and deserve it.

:sarcasm:

[Karmadillo]

7. They've done so much for us. It's the least we can do for them.

nt

[felix_numinous]

8. Good thing

they are entitled to it :sarcasm:

We better start opening communal soup kitchens for each other. Freedom soup.

[dgibby]

11. More like stone soup if you ask me,

and I'm willing to bet the price of the stone won't be affordable or if it is, the taxes will be exorbitant.

[BrklynLiberal]

9. brilliant....just brilliant

[femrap]

10. By chance does

anyone have the addresses of some of these families?????

[hfojvt]

12. in the words of George Bailey

"Merry Christmas, Mr. Potter."


Let's not forget the Obama re-write of It's a Wonderful Life. Fearing the collapse of the Building and Loan Barack Bailey agrees to compromise and sell the shares to Potter for 51 cents on the dollar. Later, he gets a good paying job from Sam Wainwright. Hee Haw!