Mend The Estate Tax, Don't End It

From Common Dreams:

New Report Reveals Estate Tax Repeal Would Give Over $200 Million Windfall to Oil Company Executives

WASHINGTON - May 30 - Next week the Senate is scheduled to consider legislation (H.R. 8) to repeal the estate tax. Repealing the tax, which has been law since 1916, is estimated to cost $1 trillion from 2011-2021. Although the tax affects few Americans, repeal will give some families extraordinary windfalls. The CEO's of major oil companies, for instance, would get enormous benefits if H.R. 8 were enacted. The family of one oil executive, Lee Raymond (the former ExxonMobil CEO), alone could receive a tax break worth over $160 million.

This report analyzes the impact that repeal would have on the families of the senior executives for the major oil companies. In 2005, the minority staff of the Government Reform Committee released a similar analysis showing that repealing the estate tax repeal would save the President, Vice President, and 11 cabinet members as much as $344 million.

The reports are available on-line at www.democrats.reform.house.gov.

That's our future the Republicans want to give away. Will you let that happen?

This weekend I found a site for a group that must be the only group out there that's paying attention to any of this, called Coalition 4 America's Priorities. They have phone numbers for your representatives in DC and in their home districts or states, and I encourage you to call as many as you can. I've already called mine, and think I might just call a few more.

Does anyone know much more about this group? Are they running ads or sponsoring anything in Washington? It would be nice to think my little blog isn't the only site trying to bring attention to this issue.