Bill Frist presses hard to increase birth tax
After helping President Bush push to the Senate an amendment that would ban gay marriage, Republican Majority Bill Frist plans to move onto what his party believes is the second most important issue facing the nation: upper class tax relief. The estate tax, which only , adds more than $2 trillion in revenue to the U.S. Treasury. The Republicans call this "the death tax," and want to repeal it immediately. Such a repeal would add to the national debt, therefore increasing what young people call "the birth tax." But sees it differently:
Opponents of the estate tax, which is levied by the federal governmenton wealth of more than $2 million, say Thursday's Senate vote is allabout repealing an onerous levy they have dubbed the "death tax."
"It is said that the only certain things in life are death and taxes,but when Ben Franklin coined that phrase, he surely didn't envisionbeing taxed after death," Senate Majority Leader Bill Frist, R-Tenn.,said in a statement. "Yet this is exactly what the death tax does."
If Congress makes full repeal of the estate tax permanent, about $1trillion would be added to the nation's current national debt of $8.36trillion over 10 years.
I know that it is easy for the GOP to tax those that have not been born yet, especially since they will not anymore votes for his party this November. But thinking about the future is a rational thing to do every now and then.
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