All the Democratic presidential candidates started out firm in their determination to repeal the evil Bush tax-cuts-for-the-rich. You know the kind they mean. The kind of tax cuts that Paris Hilton gets (whatever that is).
Apart from the fairness issue, for of course it is only fair for rich people to pay a higher tax rate than the middle class like you and me, the candidates needed the money to pay for universal health care.
But now Sen. Barack Obama isn’t so sure, according to Brian DeBose. Of course he is determined to make rich people pay their fair share of the estate tax.
Senator Obama has been a consistent opponent of repealing the estate tax because he believes it is both fiscally responsible and morally right when ultimately the vast majority of people who benefit from these tax breaks are millionaires who do not need the money as much as middle class families struggling to make ends meet," said the campaign.
Yeah! Squeeze them until the pips squeak! But now the campaign is not so sure.
But the campaign is not sure whether the estate tax would return to the pre-2001 rates, with the government taking 55 percent of inheritances of $650,000 and higher or conform to other recent proposals.
Well, nobody said that dealing with reality was painless.
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