Republican On Why You Don't Deserve Tax CutsThe Young Turks
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- 8 months ago
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Read more here: https://www.washingtonpost.com/news/morning-mix/wp/2017/12/04/grassley-explains-why-people-dont-invest-booze-or-women-or-movies/?utm_term=.f6c6738df65d
“As Republicans continue to sell the details of their tax bill, some are reaching for more colorful language to liven up complex policies that tend to put the average voter to sleep.
Case in point: Over the weekend, Sen. Charles E. Grassley (R-Iowa) hashed over the plan with his home state’s largest newspaper, the Des Moines Register. Turning to the party’s idea of doing away with the estate tax, Grassley framed the current law as a hindrance to responsible saving.
“I think not having the estate tax recognizes the people that are investing,” Grassley told the Register in a story published Saturday. “As opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”
The estate tax, often described by Republicans as the “death tax,” is levied only on the very rich, passing on assets of more than $5.5 million for individuals and $11 million for married couples. The current tax on estates is 40 percent of an individual’s wealth at death.”
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