Krugman on Death and Taxes

This is so bad it is funny...

Stop, you’re killing me

Eight and a half years ago, when I dubbed the first Bush tax cut the Throw Momma from the Train Act of 2001, I didn’t really think that we’d get to the point where there would be strong financial incentives for wealthy heirs to bump off their parents before the legislation expired, and the estate tax was reinstated. I expected one of two things to happen: Democrats would restore a sensible estate tax, or Republicans would achieve the political dominance needed to permanently abolish the tax. As John Belushi would have said, however, But NOOOOO. Instead, it’s really happening.

Just to be clear, the source of this craziness is fiscal fraud: way back when, the Bush team used sunsets that were never intended to take effect in order to hold down the official cost of their tax cuts. Their assumption was that at a later date they’d be able to make the thing permanent.

And let’s also be clear: they should not get their way now that the upper hand is on the other foot. Estate taxes can and should be a significant source of revenue, which is badly needed. If Dems can get Republicans to agree to a higher minimum, OK; otherwise, just let the Bush tax cut expire.

Go read the original in order to follow the links as well as watch the excellent Monty Python piece that Krugman uses to introduce this posting!

I find it astonishing that one-third of Americans still haven't figured out that Bush was the absolute worst US president in history, even worse than Warren G. Harding another Republican sleazeball up to his elbows in slime.