A while I go I blogged about the estate tax and how the cutting of it would negatively affect our country. In an easy answer, cutting the estate tax would essentially mean that the wealthiest people in our country would not be taxed on their inheritances. I won't bore you with specific statistics, you can research them on your own if you're interested on the websites listed below.
The bottom line is this would mean HUGE losses in revenue for our country when there are already significant budget cuts in harmful places due to all the money we are spending on this war. And not only would we lose the income directly from the taxes but this would also negatively affect charitable giving!
This didn't go through previously but it is now being coupled with the raising of the minimum wage in order to get it passed. As much as I'd like to see the minimum wage raised, the harm this bill would do far out weighs the good. This bill has already passed in the House and is going to be voted on even possibly tonight in the Senate.
Feel free to use the number below to contact your Senators and let them know how you feel about the matter.
1-800-459-1887
Tell them...
Vote No on H.R. 5970, the cynical ploy to slash the estate tax. Handing $750 billion over 10 years to a small number of multimillionaires will force cuts in health care, education and other vital investments for all. I support an increase in the minimum wage - but the cost of this reckless bill is far too high.
To keep informed on important legislation, check out these websites...
www.chn.org (Coalition on Human Needs)
www.results.org (Results)
www.soujourners.com (Soujourners)
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