Jul 26, 2012 3:09 AM GMT
Republicans see virtue in taking from the poor to enrich the rich.
Congressional Republicans propose giving $119 billion in lowered estate taxes to the heirs of just the 3 wealthiest of every 1,000 people who die every year (about 7,500 people). In order to pay for this gift to the wealthy, the Republicans propose eliminating current extensions to improvements in the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) The eliminated benefits would affect more than 13 million working-poor and near-poor families (including nearly 26 million children) in 2013. "For instance, a married couple with one child and earnings at the estimated poverty line for 2013 will receive $1,934 less in combined CTC and EITC benefits..." The Republicans are also proposing reductions in financial assistance for students...
Such is the price Republicans would have us pay in order to ensure that the rich stay rich. For some reason, the Republicans feel that it is right that millions of poor and middle-class should support a few thousand of the rich.