If the estate tax were to be repealed, the cost would result in $1.3 trillion in lost revenue and $277 billion in interest on the national debt. This is not something the American people can afford at this time when employment remains at almost one-tenth of the labor force. The United States has seen poverty rates increase dramatically, and the unemployment numbers are not expected to get remarkably better in the near future. Funding for programs such as the Supplemental Nutritional Assistance Program (SNAP), which are vital to many of the unemployed, need our support. Tax revenue is the means through which the government provides that support.
Additionally, the benefits from supporting programs like SNAP are two-fold. Individuals and families get the economic support they need, and according to the Department of Health and Human Services, every $5 in SNAP benefits generates $9.20 in community spending. Talk about an economic stimulus package! Cuts to non-security discretionary programs would further jeopardize those on the economic margins of our society. This is simply an unacceptable consequence of allowing the top 2-3% of income earners to acquire greater wealth while funding for public assistance programs gets slashed.