Royally Kranked

Wednesday, April 26, 2006

Class Warfare Of The Elite Kind

Without putting too fine a point to it, there are those superrich families that are the last ones who deserve the wealth they were born into

18 rich families pay for campaign to kill estate taxes

Eighteen of America's wealthiest families, including the Timkens of Canton, are bankrolling efforts to permanently repeal estate taxes that would save their families a total of $71.6 billion, according to a report released Tuesday by public interest groups.

Groups funded by the super-rich have engaged in a deceptive campaign to convince the public that estate taxes cause widespread problems for small businesses and family farms when they actually affect about one in 370 estates, said the report released by Public Citizen and Boston-based United for a Fair Economy.

This year, all assets under $2 million for individuals and under $4 million for couples are exempt from estate taxes. Current tax law will boost those exemptions to $3.5 million and $7 million in 2009, eliminate the estate tax in 2010, and reimpose it in 2011 with a $1 million exemption.

Oh my God, how do those 18 families survive?

And of course, if there's an evil family involved with massive amounts of money, only one family name springs to mind

They said families including those that founded Wal-Mart, Gallo wineries, Nordstrom's department stores, Wegman's grocery stores, the Mars candy company, Cox media chain and Campbell Soup Co. joined the Timkens in bankrolling an effort the groups' report called "one of the biggest con jobs in recent history."

Yes, the Waltons, a family that's never met employees they felt should be paid a decent wage for all the money they fill the Walton's coffers with, and a family that insists on corporate welfare in the form of public assistance for their underpaid employees health care costs

And since Bill Frist is under investigation for insider trading concerning his family's health-care colossus HCA, perhaps his sympathy for the almighty dollar isn't surprising in the least

The House voted to permanently repeal the estate tax last year, but the measure stalled in the Senate, where 60 votes are needed to override filibusters. Majority Leader Bill Frist says he will bring the bill up in May.

Wow, between that, a intellectually & ethically lazy gay-bashing constitutional amendment and trying to keep his rapidly sinking presidential ambitions alive, how does Frist plan on defending himself from that insider trading investigation, especially since he's out to make the lives of families-well, those families mentioned earlier-better than ever


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