In 2011, when he was still House Minority leader, former Rep. Eric Cantor gave a speech about what the GOP could to about inequality, which focused on “how we make sure the people at the top stay there.” Cantor has since gone to his reward, making a lot of money working for “the people at the top.”
This week, Cantor’s fellow Republicans did their part to “make sure the people at the top stay there.” House Republicans voted 239 to 179 to give a $269 billion handout to the wealthiest 0.2 percent of Americans, by repealing the inheritance tax.
All but three Republicans, and no Democrats voted for the bill, which also repeals capital gains taxes for people with large estates, allowing investments to be handed down with no taxes on their growth over the years.
America is now the “world leader in child poverty.” Alarming numbers of teenagers a dropping out of school to go to work and help support their families. Thousands of low-wage earners, from fast-food workers to adjunct professors, just took to the streets to protest poverty wages that cost taxpayers $153 billion. In the midst of all this, House Republicans work to make sure the heirs and heiresses of the 4,700 wealthiest families get their money the really old-fashioned way — by inheriting it tax-free, just like they did in the gilded age.
Why? Because that’s who they are.