Jul 122005

BUSH FARMS OUT FAULTY FACTS: The Senate is poised to vote this month on a bill to permanently repeal the estate tax (a.k.a., the Paris Hilton Benefit Act). Hard-pressed to defend a bill that benefits such a minute few at the expense of so many, President Bush has been claiming that the estate tax (which he calls the "death tax") hurts America’s farmers: "For the sake of family farmers, Congress needs to get rid of the death tax forever," Bush said recently. But now we know just how dubious that argument is. The New York Times reports on Congressional Budget Office data showing that just 300 farms are subject to the estate tax. Moreover, "[a]ll but 27 farmers left enough liquid assets to pay taxes owed, the budget office found, although it hinted that the actual number might be zero."

Sorry, the comment form is closed at this time.