only one percent of all the estates in this country are assessed any estate tax. I have already voted to repeal the tax for most of those who are subject to it, and to do so immediately, not seven or ten years from now. But this vote today is a vote that is only the latest variation of the one-note symphony that is the Republican call for more and more tax breaks, each and every week, for the economic elite. This bill is a key part of a $4 trillion package of tax breaks for the privileged few that they would saddle the rest of this country with paying for. This vote is more than a decision about the legacy of the heirs of Steve Forbes, Ken Lay and Ross Perot; it is a vote on the legacy for the future of America. Today we are concerned with the Republican leaderships decision to, once again, never find a tax break for the wealthy that it does not like. They will indeed leave a lasting legacy. Yes, the heirs of Steve Forbes will get a windfall, but all the other children of America, they will get something also, a growing mountain of public debt, an undermined Social Security system, and a bleaker economic future. Our children will inherit a shrinking pool of Federal funds to meet the expanding security needs our Nation now faces; and our children will be forced to pay higher taxes tomorrow because some were unwilling to pay their fair share today.
Editor's note · Context
Addressing the implications of estate tax repeal and its impact on future generations.
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