Blanche Lincoln – (DINO) AR would like to ham string Obama budget and health care reform by simply lying about the effects of the estate tax. Another thing that really pisses me off about this piece of “journalism” is the total acceptance of the GOP framing of the issue demonstrated by continually referring to it as the “death tax” which was nothing more than a marketing concept. It’s a lie and fraud on hard working Americans.
via Fate of Estate Tax Imperils Obama’s Ambitions – NYTimes.com.
“In a time when our government has handed out billions upon billions to failed Wall Street banks,” she said, “it is time we provide a little relief to our businesses on Main Street.” (Flat out Lie)
But critics say her estate tax proposal represents a giveaway to the rich since very few estates built around small businesses or farms — always the poster children for repealing the estate tax — would actually be subject to the tax.
“The real beneficiaries are indeed the same kind of people getting the big bonuses on Wall Street,” said Robert Greenstein, executive director of the liberal Center on Budget and Policy Priorities.
A new analysis by the nonpartisan Tax Policy Center estimated that only 100 farms and small businesses in the entire country would be subject to the estate tax under Mr. Obama’s plan, a number that shrinks to 40 under the proposal Ms. Lincoln sponsored with Jon Kyl of Arizona, the No. 2 Republican in the Senate. A subsequent analysis by the center raised the prospect that there may be no farms or small businesses in Arkansas vulnerable to the tax. (A little bit of truth)
A few opponents of repealing the tax have suggested that Ms. Lincoln, who is up for re-election next year, is looking out for the heirs of prominent Arkansas family businesses like Wal-Mart and Tyson Foods. She dismisses the notion, saying such wealthy Arkansans have the personal resources to contend with the estate tax on their own. (probably the real reason she cares at all)
Ms Lincoln and her aides say she is instead acting on the concerns expressed by the owners of Arkansas businesses like timber firms and floral shops who worry that what they have worked to build and expand might have to be sold to pay the tax. (Maybe she should just tell them the truth, their not subject to it)
Every time I hear someone say “death tax” I say “Paris Hilton Tax”. It’s much more representative of who it touches.
