Chuck Schumer: “The number of estates in the Senator's State of Iowa that paid an estate tax of more than $5 million--we are debating $3…”

“The number of estates in the Senator's State of Iowa that paid an estate tax of more than $5 million--we are debating $3 million, so this is probably a little low--is 23. That speech was given for approximately 35 families a year in Iowa, the very wealthiest, instead of the tens of thousands of grandparents of World War II veterans, such as my father, who have to struggle to put their kids and grandkids through college. Thirty families in Iowa, estate tax reduction; tens of thousands, college tuition reduction. Choices. We would all like to reduce every tax. Which do you choose?”