Grassley: Estate tax comments were misinterpreted

Sen. Chuck Grassley on Capitol Hill in Washington D.C

Sen. Chuck Grassley on Capitol Hill in Washington D.C

Still, GOP lawmakers should use caution when promoting their tax plan, for Democrats are eager to pounce on anything they can use to discredit the legislation. Chuck Grassley implied that people not now affected by that tax are "spending every darn penny. on booze or women".

The seven-term senator drew ire for his comments after the House and Senate passed bills that would eliminate or heighten the minimum for the estate tax, respectively.

Amidst defending his support for repealing the estate tax - which is a 40 percent government charge imposed on the estate of a deceased person - Grassley made the claim that people who aren't investing their money are actually just blowing it all on "booze or women or movies".

Grassley's words were interpreted by many as a suggestion that average Americans don't deserve tax breaks because they misspend money, while wealthy Americans save their money. One Twitter user complained that the GOP was turning America into a version of "The Hunger Games".

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Iowa Citizen Action Network, the Main Street Alliance of Iowa and Americans for Democratic Action Iowa are hosting rallies on Tuesday, December 5 at 5:00 pm outside the offices of Senator Chuck Grassley in Des Moines and Waterloo protesting his recent remarks to the Des Moines Register. Now, the Iowa senator apparently sees the tax change as a way to reward those who have accumulated millions of dollars by "investing". However, the Senate proposes preserving the estate tax and doubling the exemptions. Only the estates of about 2 out of every 1,000 Americans who die face this tax right now.

Family farmers and small business owners represent a very small portion of the estate tax payers and in fact fewer than.00007% of Iowans owe estate taxes. The House tax bill initially doubles the limits and then repeals the entire tax after 2023.

"My point regarding the estate tax, which has been taken out of context, is that the government shouldn't seize the fruits of someone's lifetime of labor after they die", Grassley said in a statement.

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