Reply #4: First Senate vote expected on Obama-GOP tax deal [View All]

[ozymandius]

At the insistence of Republicans, the plan includes a more generous estate tax provision: The first $5 million of a couple's estate could pass to heirs without taxation, and an additional $5 million for the spouse. The balance would be subject to a 35 percent tax rate.

That provision infuriated Democrats who are already unhappy with Obama for agreeing to extend tax cuts at incomes of more than $200,000 for individuals and $250,000 for couples, and who say the tax breaks will unnecessarily add to the rising federal deficit. In all, the package would cost about $855 billion, according to a preliminary congressional estimate.

more

Deficit hawks who vote for this bill have no justification for opening their mouths on the subject. Yet 'hypocrisy' is on the family crest for so many of these people.