Bush Opts for Estate Tax Repeal as Way to Erode Social Security

Speaking of taxes...today is April 15...President Bush and the Tom Delay-led House of Representatives want to entirely repeal the federal estate tax. Yesterday the House voted 272 to 162 to do just that.

House Democratic Leader Nancy Pelosi objects to elimination of this tax because the bill favors the "super-rich" and would make federal deficits much more. Of course, the US trade deficit now stands at a world-history high, and the US has no plans or methods to repay its overwhelming debt, which is mainly to China and Japan.

Repealing the federal estate tax would remove $1 trillion over 10 years from government revenues at exactly the time when Social Security solvency becomes an immediate concern. Subtracting $1 trillion from the US Treasury would also be catastrophic for education, local homeland security, MediCare and Medicaid and all services to middle class Americans, elderly, children, the needy and disabled.

In truth, the Bush goal to repeal the federal estate tax accomplishes several cherished Republican goals. First, it would grant lucrative new tax cuts to ultra-wealthy families like the Bushes and Cheneys.

Cutting government revenues is also a "back-door" way to apply more pressure to cut or even end Social Security benefits. There would be less money to give back to the Americans who had it deducted for decades from their paychecks.

Read here about the Pros & Mainly Cons of Repealing the Estate Tax. George Bush says it's not "fair" that very wealthy families have to pay an estate tax.

Does that mean it's fair to cut vital, lifeline programs to all Americans out of fear of denting lifestyles of the rich and famous?