Monday, June 19, 2006

Rep. Thomas to Set Up His Cushy Retirement with Estate Tax Bill

(AP) Who will hire Rep. Bill Thomas, Chair of the House Ways & Means Committee when he retires from Congress this year? Will it be a law firm that specializes in estate planning or an investment house that puts trust fund money to work? Might it be a large for profit health care company wishing to thank the Chair for his hard work on their behalf over the years?

Regardless of which cash cow Rep. Thomas chooses to milk, he has one last assignment courtesy of Senate Majority Leader Bill Frist (of the HCA for profit hospital Frist family). Mr. Thomas has been charged with reducing taxes on inherited estates. Current law provides for a one year gutting of that revenue source for the federal government. Senator Frist doesn’t plan to die in the next year, so he would like the tax cut extended for his heirs to benefit from drastically reduced inheritance taxes.

Ever the good soldier, Rep. Thomas gave the Republican salute and is tarrying onward with a July 4th deadline. Did you know it is American to cut taxes in the midst of record deficits? Fly the flag as I can feel a big dose of patriotism coming. How come the ones who seem to benefit are the ones making the laws? That may not patriotism after all, I hope I can make it to the bathroom….


Unknown said...

I am posting this one over on my humble blog..I could post all your stuff over there..your research and writing are so good Alan :)

PEU Report/State of the Division said...

Thanks Dusty, you are too kind! I appreciated your Father's Day piece. It must have been difficult to write, to re-experience some of the sh_t fed you growing up. Peace,