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DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Estate Tax Repeal Would B... » Reply #7

Response to mitty14u2 (Original post)

Fri Dec 9, 2016, 06:53 PM

7. the funny thing about this

in a really sad way

Is that Trump and company will NOT save as much by abolishing the estate tax as they saved when Obama and the Democrats gutted the estate tax in 2012.

That link says that the estate tax brings in $8.5 billion a year.

It used to, before Obama got elected, bring in $70 billion a year. http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x30476

So, tax cut from Trump that we are supposed to wail and gnash out teeth about - $8.5 billion per year

Tax cut from our hero Obama (and voted FOR by such progressive stalwarts as Bernie Sanders and Tammy Baldwin) - $61.5 billion per year.

Of course, the estate tax used to be even higher before Bill Clinton's tax cuts of 1997, cut more than $10 billion a year from the estate tax. http://www.democraticunderground.com/?com=view_post&forum=1002&pid=2665533

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