John W. Olver: “the so-called Death Tax Elimination Act should be called the Multi-millionaire Protection Act. It does tell America what…”

“the so-called Death Tax Elimination Act should be called the Multi-millionaire Protection Act. It does tell America what Republican priorities really are. Before anything else, the Republican leadership would give a huge, reckless and dangerous backloaded tax cut to only 2 percent of Americans, and more than half of the tax cut goes to the wealthiest one-tenth of 1 percent. That is right, more than half of it would be available to fewer than 60,000 families out of more than 60 million families. Do the Republicans really believe that the Bill Gates and Steve Forbes and John Corzines need $25 billion of tax cuts every year? Does anyone listening or watching today believe they need $25 billion of tax cuts? But the Republican leadership would give that multi-billion dollar tax cut before limiting class sizes to 18 for 3 million children, before establishing a prescription drug benefit as part of Medicare for 13 million American senior citizens who cannot afford the expense of insurance coverage. It is a stunning revelation to know that the Republicans' highest priority is a huge tax cut that only benefits the wealthiest 2 percent of Americans. Vote for the substitute and against this giveaway.”