Word: repealment
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...Instead, some of the nation's stinkingest stinking rich men are banding together a little more informally - in a petition that will run as a full-page ad in Sunday's New York Times, for starters - to explain to George W. Bush and congressional Republicans why their proposed repeal of the so-called "death tax" is not a good idea...
...Repealing the estate tax," the petition reads, "would enrich the heirs of America's millionaires and billionaires while hurting families who struggle to make ends meet... would have a devastating impact on public charities... would be bad for our democracy, our economy and our society." The petitoners add that adjustments may be needed to help families passing down farms and small businesses. "Let's fix the estate tax, not repeal...
...Certainly these guys are impressively populist for rich old white men - it's enough to make you miss the robber barons - but the Monopoly men have certainly homed in on the repeal's political weak spots...
...percent of annual deaths - pay the tax now. And it remains a powerful incentive for the aging rich to give some of their millions to charity before the government gets its bite. Opponents of the plan - including the petitioners, who should know - also say that the cost of a repeal will be far greater than the $236 billion price tag Bush puts...
...Thursday, Bush sends the broad outlines of his plan to Congress, and the plan officially hits the bargaining table. Up for negotiation may well be the estate-tax repeal that passed both houses last year, countered possibly by some targeted cuts that Democrats want. Bush is promising "the tax cut I ran on," and thus size and scope are probably less negotiable than fine-print content. And with the public's sense of fiscal responsibility on a hair trigger, that goes for Republicans...