Charles Taylor and Robin Hayes Vote at 1:41 a.m. to Give Huge Tax Cuts to the Richest Americans

Charles Taylor, Robin Hayes, and the Republican Party (along with 34 unprincipled Democrats) skulked into the chamber last night, well after every decent American had gone to bed, and offered up an immense tax cut to the wealthiest people in the nation. The vote was 230 - 180.

"H.R. 5970: to amend the Internal Revenue Code of 1986 to increase the unified credit against the estate tax to an exclusion equivalent of $5,000,000, to repeal the sunset provision for the estate and generation-skipping taxes, and to extend expiring provisions, and for other purposes

Motion to reconsider laid on the table Agreed to without objection."

The Congress that would not consider giving $2 to minimum wage Americans just gave Paris Hilton $91,089,200.

David Grossman at MyDD explains the bill using Paris Hilton's estate as an example. This first set of figures is what Paris Hilton would pay under the old law:

$350,000,000 estate
$1,000,000 exemption
$349,000,000 taxable
First $250,000 @ 41% = Tax of $102,500
Second $250,000 @ 43% = Tax of $107,500
First $500,000 @ 45% = Tax of $225,000
Second $500,000 @ 49% = Tax of $245,000
Third $500,000 @ 50% = Tax of $250,000
$7,184,000 @ 60% = Tax of $4,310,400
$338,816,000 @ 55% = Tax of $186,348,800
Total tax = $191,589,200
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PARIS INHERITS $158,410,800

The next set of figures is what Paris Hilton will pay if the Senate also approves this bill:

$350,000,000 estate
$5,000,000 exemption
First $20,000,000 @ Capital Gains Tax Rate (currently 15%) = Tax of $3,000,000
Balance of $325,000,000 @ 30% = Tax of $97,500,000
Total tax = $100,500,000

PARIS INHERITS $249,500,000

Charles Taylor and Robin Hayes could not vote on this bill during the work week. They had to sneak into the chamber on a weekend, during the slowest part of the news cycle when they think no one is paying attention. They are ashamed to let people know they support giving Paris Hilton $91 million while refusing to give working people two dollars.

Their votes are shameful reminders of why both Congressmen have failed their constituencies. Preferring wealth to justice, the two men stand to gain a great deal themselves from a repealed estate tax. Both men would short change the nation that enriched them in order to finance their shady business deals.

This is a good place to start on Monday morning. If the spirit moves you, write a letter to the editor. The more people who know about this the better, and there's no way Hayes or Taylor should get off the hook. They tried to hide their craven disdain for the poor and love for the very rich (themselves included) by having a vampire vote that will significantly reduce tax revenue during a time of the greatest deficits in American history. They do not get a pass. Senator Edwards may be interested in helping the voters of NC-08 and NC-11 understand that these incumbents always vote against the poor while licking their lips in anticipation of the windfall to come.

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Comments

First they vote themselves a pay raise

then they vote themselves a tax cut.

Won't each of them benefit from this tax cut?



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Vote Democratic! The ass you save may be your own.

Darn near all will benefit

from BOTH their TOTALLY UNDESERVED pay raise (what the heck have they accomplished in the last year?) and the TOTALLY UNDESERVED tax cut.

This is like a big middle finger held up to middle America. Sons-O'Bs. And what was it they did with that minimum wage bill? Bastards. I tell ya, it's enough to make a normally quiet American jump up and scream. But I say we don't get mad. I say, we get even. Turn the US House blue for the next two decades by using this big stick to relentlessly beat the GOP over the head in every election from now until ...

"They took all the trees and put them in a tree museum Then they charged the people a dollar 'n a half just to see 'em. Don't it always seem to go that you don't know what you've got till it's gone? They paved paradise and put up a parking lot."

Did I read this correctly?

This bill was coupled with a minimum wage increase. So while the rich stay uber-wealthy, the poor get a chance to buy gasoline. Link TextDoesn't this sound like Republican blackmail? A vote to help the working poor is a vote for Paris Hilton, and a vote against Paris Hilton is a vote against the working poor! I don't know about you, but this utterly disgusts me.

Oh yeah, and our friend Virginia Foxx voted for this bill!

The Senate and Minimum Wage

The House bill stood alone so far as I can tell.

The Senate bill will couple the minimum wage hike with the estate tax cut. This forces Dems to vote against the minimum wage right before the election.

But, should the Senate find a way to pass it, the House bill is passed and ready for committee. One step closer.

Scrutiny Hooligans - http://www.scrutinyhooligans.us

Honestly

If W.B. Jones, Jr. did have something better to do at 2am on a Saturday morning, my respect for the man probably needs to be adjusted upwards ever so slightly.

I guess it is true

that the girls all get prettier at closing time... but at 2 am, couldn't they have found someone cheaper that 100 million or so?

I keep coming up with names for this bill:
The Paris Hilton Bikini Wax Bill
The Bush Twins Bar Tab Bill
The Poor Infrastructure and Right to Par-tay Bill

I mean, if we are giving little rich girl that much money, can't we get her to entertain the troops or something?

Oh...I like the first two

I'm not sure which I like better though.



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Vote Democratic! The ass you save may be your own.

The law that threaten’d

The law that threaten’d death becomes thy friend,
And turns it to exile; there art thou happy:
A pack of blessings light upon thy back;
Happiness courts thee in her best array;
But, like a misbehav’d and sullen wench,
Thou pout’st upon thy fortune and thy love.
Take heed, take heed, for such die miserable.