US cut taxes for richest Americans

The wealthiest Americans can gain another $20 million annually.

The Death Tax Repeal Act promoted by the Republicans resulted in the fact that the House of Representatives voted in favour of a tax break. Thus, the federal estate tax can be eliminated.

The subjected estates should value more than $10.9 million for couples and $5.4 million for individuals. 99.8 % of the citizens are not related to it.

Also read: America's great divide between rich and poor

Only 3 Republicans opposed the bill. Kristi Noem of South Dakota, which is one of them, claimed:

"One in five children are on food stamps because of the policies of this administration, fifty percent of our college students can't find work or are underemployed because of the policies of this administration. We talk about income inequality, and we are seeing it because of those previous policies. This tax is a very unfair tax."

The measure would also further increase the federal debt.

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Author`s name Editorial Team