Friday, July 20, 2007

Making Sure the Rich Get Richer

Republican Congressman John Boozman is a proud co-sponsor of H.R. 2380 to permanently repeal the inheritance tax paid by the richest 2.1% of Americans. The current law provides that only accumulated estates of more than $2 million have to pay any estate tax, but Congressman Boozman wants to abolish this annoying burden on the wealthiest families in America and shift the resulting national debt to working stiffs.

The tax cuts supported by Congressman Boozman and the record deficit spending that he has voted for every year he has been in Washington have left future generations with enormous debts. Boozman seems to think it okay to run up the national credit card and let someone else pay it off—someone besides the millionaires for whom he seeks even more tax breaks and from whom he receives campaign contributions.

“I think it’s the right thing to do,” Boozman said of repealing the tax on the wealthy. He did not say what would be the right thing to do about cutting the federal deficit or giving tax relief to middle class working families with less than $2 million in net worth.

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