Tuesday, November 6, 2012
New York Times editorial: Republican Tax Priorities:
If Congressional Republicans get their way, expiring cuts in the estate tax for America’s wealthiest families will be extended in 2013. But under their cruel plan, enhancements to tax credits for low- and moderate-income working families, which are also set to expire at the end of the year, would end.
Extending the estate tax cut would benefit the estates of the wealthiest 0.3 percent of Americans who die in 2013 — about 7,000 people. Ending the tax credits would hurt some 13 million working families, including nearly 26 million children, many of whom live at or near the poverty line. ...
The heirs of the wealthiest people in America do not need continued tax breaks, nor can the nation afford the giveaway. Low- and moderate-income working Americans need all the help they can get. That is not the way Republicans see it, but that is the way it is.
(Hat Tip: Mike Talbert.)