Estate Tax

Here is yet another champion of a made up 'Death Tax' crisis. It is unfortunate that there are so many delusional Americans (Tea-Baggers) who think they will be millionaire’s some day and can be fooled into something as silly as repealing the Estate Tax.  'Hey, Millionaires need that money to buy Politicians!'

While Americans Look for Work, Blanche Lincoln Works to Cut Taxes for Millionaires

 from Firedoglake




The nation is suffering its worst economic slump since the 1930s.
10% of the country is out of work, many more have given up looking for
a job, and even those Americans who are fortunate enough to be employed
are struggling to make ends meet under the burden of higher medical
costs.

Kind of an odd time to be worried about the Estate Tax.

Lobbyists
for small businesses, construction companies, manufacturers and other
trade groups are racing the clock to convince Congress to reinstate the
federal estate tax they’ve fought for years to abolish. The
National Federation of Independent Business and more than 40 business
organizations wrote Senate and House leaders last week asking for quick
action on a proposed 35 percent levy on inheritances worth more than
$10 million per couple.

[...]

The groups have changed positions in a bid to head off higher taxes on the horizon: Unless
Congress acts, current law would raise the tax next year to 55 percent
on estates after they exceed $2 million per couple, from nothing this
year.

Don’t you feel the urgency people?! There are
desperate millionaires out there who will pay higher taxes UNLESS WE
ACT NOW!!!11!1

Blanche to the rescue!

Arizona Republican Senator Jon Kyl and Arkansas Democratic Senator Blanche Lincoln have proposed setting the rate at 35 percent, retroactive to Jan. 1. The measure would apply to the portion of estates that exceed $10 million per couple, and would adjust that exemption for inflation in later years.

Extra style points for teaming up with Jon Kyl, there, Blanche.

And here’s the kicker.

The
legislation pushed by Kyl and Lincoln, exempting $10 million per couple
from taxation, would affect 3,030 taxpayers this year, including 310 business owners or farmers, according to Tax Policy Center estimates.

Don’t have a job? Don’t have health care? Tough shit. Got an estate worth $10M? Blanche is ready to help.

Donate to Bill Halter’s campaign.