Boozman bill would eliminate estate tax

[sinkingfeeling]

http://thehill.com/blogs/floor-action/senate/239257-boozman-bill-would-eliminate-estate-tax

Sen. John Boozman (R-Ark.) introduced a bill Thursday that would eliminate the estate tax.

The Death Tax Repeal Act would permanently eliminate the federal estate and gift taxes, which Boozman says unfairly punishes small businesses and farmers.

S. 3403, doesn’t have any co-sponsors at the moment, but it’s an issue most Republicans agree on.

Currently the top estate tax rate is 35 percent with an exemption for the first $5 million. If Congress does nothing by the end of the year, the top rate would rise to 55 percent with a $1 million exemption.

[Scuba]

1. If the first $5 million is exempted, small businesses and small farmers are not being punished ...

I frankly don't care if Paris Hilton inherits enough money to snort all the cocaine in Bolivia, but I damned well object to her inheriting ALL her family's fortune while the maids who cleaned all those hotel rooms are living in poverty and dying without healthcare.