re: #179 lawhawk

GOP tax cut lies… in a nutshell:

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Cruz claims the estate tax cut will help all Americans.

Fact is that the estate tax doesn’t affect 99.2% of Americans. It affects only those who have estates of more than $5.49 million (double for married filing jointly). In other words, this isn’t the family farm being at risk, but millionaires like Trump who would have to shell out millions in taxes.

The only ones who benefit are rich like Trump.

Everyone else gets fucked as the $269 billion that is collected over 10 years is lost. There’s no making up for that amount, and there’s no economic activity generated by the rich to make up for that lost revenue. None.

It’s $269 billion that could go to infrastructure work or disaster relief.

Cruz doesn’t care.
The GOP doesn’t care. They want their fucking tax cuts, all consequences be damned.

It is unfair to characterize people who may have 5.49 to 10 million dollars “rich like Trump”. Professionals who grew up in modest circumstances without an inheritance, who are not even the top earners in their profession, but who earn a good income, perhaps in the $100,000 to $200,000 range, who are able to contribute the maximum to their 401(k) with a match from their employer, and who do not live extravagantly, can indeed accumulate that amount, mainly through their retirement funds. They are comfortable and affluent, but not truly rich. Their income does not even place them in the top 5%.