For Cost of Repealing Estate Tax, Congress Could Buy Everyone in America a Pony
Let’s break down the numbers. Shetland ponies range in price from $300 to $1,500. We’re not lavish people, but we also don’t want to buy a cut-rate horse, so we assumed $800 per pony (and, of course, that there are enough ponies to go around). The larger expenses are the continuous costs of keeping our ponies healthy, active, and thriving: Every year our ponies will need lodging ($2,400), food ($1,200), and visits from the vet ($300) and farrier ($500).
These are sizeable expenses; on average, purchasing and caring for a pony will cost about $44,800 over 10 years. But the Senate is already considering a budget that includes a far more sizable expense: $1.5 trillion over 10 years in higher budget deficits for tax cuts that will mostly benefit the wealthy.
If Congress abandoned its tax cuts for millionaires and wealthy corporations, it could use that $1.5 trillion to purchase and care for a pony for roughly every American child ages 8 and below. Given the current dynamics in the United States—where economic inequality is skyrocketing and My Little Pony: The Movie is now playing in theaters—giving ponies to children is probably a more appropriate policy response than giving tax breaks to millionaires.
Alternatively, instead of providing tax cuts for millionaires or ponies for children, lawmakers could also use $1.5 trillion in many other ways to create jobs, reduce child poverty, end homelessness, make college free, or provide paid family leave.
MORE:
https://talkpoverty.org/2017/10/16/trumps-tax-cuts-rich-congress-buy-every-american-pony/
