From the Sojourners email
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What $100 billion will buy:
Federal assistance for Katrina victims*
or
One year's cost of repealing the estate tax**
*White House officials and congressional budget experts now assume that federal costs for the hurricane will exceed $100 billion, which itself is more than twice the entire annual federal budget for domestic security. Source: The New York Times
**The estimated cost of the GOP's proposed permanent repeal of the estate tax is $1 trillion over 10 years. Source: Center on Budget and Policy Priorities
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Something to think about
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2 comments:
A trillion dollars?! How can it cost that much to repeal a tax?
I think they mean to say that's the savings. Or more appropriately, that's what it would cost the gov't (decrease in tax revenue collected) to repeal the estate tax.
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