To the editor:
The estate tax, which congressional Republicans are champing at the bit to abolish, applies to people who leave at least $5.49 million to their descendants (at least $10.98 million for a couple).
Republican Chuck Grassley, the senior senator from Iowa, declared that it’s perfectly reasonable to repeal that tax. He told a reporter for the Des Moines Register, “I think not having the estate tax recognizes the people that are investing, as opposed to those that are just spending every damn penny they have, whether it’s on booze or women or movies.”
Wow! So all you millions of folks who aren’t invested are using your $30,000 or $40,000 or $50,000 or $60,000 annual salary not to pay for your family’s rent or mortgage, food, clothing, and many other necessities, but on liquor, women or going to the movies.
Where are those millions of homeless, starving, buck naked people hiding, Sen. Grassley?