…El Jefe Maximo is still pushing the elimination of the estate tax because the offspring of the ludicrously wealthy need a break:
If the Estate Tax were to be repealed completely, the estimated savings to just one family — the Walton family, the heirs to the Wal-Mart fortune — would be about $32.7 billion dollars over the next ten years.
The proposed reductions to Medicaid over the same time frame? $28 billion.
Or how about this: if the Estate Tax goes, the heirs to the Mars candy corporation — some of the world’s evilest scumbags, incidentally, routinely ripped by human rights organizations for trafficking in child labor to work cocoa farms in places like Cote D’Ivoire — if the estate tax goes, those assholes will receive about $11.7 billion in tax breaks. That’s more than three times the amount Bush wants to cut from the VA budget ($3.4 billion) over the same time period.
Some other notable estimate estate tax breaks, versus corresponding cuts:
* Cox family (Cox cable TV) receives $9.7 billion tax break while education would get $1.5 billion in cuts
* Nordstrom family (Nordstrom dept. stores) receives $826.5 million tax break while Community Service Block Grants would be eliminated, a $630 million cut
* Ernest Gallo family (shitty wines) receives a $468.4 million cut while LIHEAP (heating oil to poor) would get a $420 million cut
And so on and so on. Sanders additionally pointed out that the family of former Exxon/Mobil CEO Lee Raymond, who received a $400 million retirement package, would receive about $164 million in tax breaks.
Compare that to the Commodity Supplemental Food Program, which Bush proposes be completely eliminated, at a savings of $108 million over ten years. The program sent one bag of groceries per month to 480,000 seniors, mothers and newborn children.
Remember: if Paris Hilton pays taxes on money she never earned, then the terrorists win.