Lincoln: 'Independent voice'
U.S. Sen. Blanche Lincoln's news release today sounds like a rollout of her 2010 campaign theme.
Of course, you could also call someone who votes most of the time against the leadership of the party who nominated her a Republican.
You could also call her a liar.
There's no other way to characterize her remarks about the need for estate tax relief for small businesses and farmers. To repeat just some of the facts: No spouse, however rich, must pay a dime of estate tax on inheritance received from his or her spouse. Beginning Jan. 1 on other inheritances, the first $3.5 million is untaxed, which effectively means a couple can effectively leave $7 million to family without taxes due.
The tax code includes numerous benefits for small businesses and farmers in installment payments of taxes at lower interest rates. In years of searching, nobody has yet found a farm sold on account of estate taxes. The $3.5 million exclusion can be ratcheted up to higher levels by a raft of estate planning techniques. The repeal of the estate tax would benefit only the very wealthiest people, but that tiny number of Americans control immense wealth and legislators.
A Congressional Budget Office study found a grand total of 65 farm estates nationwide would have owed estate taxes in a 2000 test year under the expanded exemption set to take effect in 2009. In 2004, only 440 estates consisted primarily of farm and family business assets subject to taxes.
Yes, family-owned businesses face some estate tax burdens. Doesn't seem to have hurt the Waltons much. Warren Buffet supports the estate tax. But, boy, would they hit a jackpot if it went away. Which probably explains the Waltons' affection for Lincoln's representation. If she'd only tell the truth about the number of people her tax "relief" would affect. A few hundred in Arkansas each year, at most.
Washington – U.S. Senator Blanche Lincoln (D-Ark.) continues to be an independent voice for Arkansans, according to a voting record report by the non-partisan publication, Congressional Quarterly (CQ).
“I am proud to represent my fellow Arkansans in the U.S. Senate, and I take the responsibilities they have given me very seriously,” Lincoln said. “Arkansans are independent-minded, and I vote with their best interests in mind. I will continue to work on their behalf to ensure our hardworking families—including our military families and veterans—have access to quality and affordable health care, our children benefit from a quality education, and our rural communities receive the economic development investments that are critical to residents’ quality of life.”
CQ’s vote tally ranks Lincoln fourth among Democratic Senators who least often support their party’s leadership. Only Senators Ben Nelson of Nebraska, Max Baucus of Montana, and Mary Landrieu of Louisiana voted against the Senate Democratic leadership’s position more than Lincoln.
During her tenure in the United States Senate, Lincoln has demonstrated she is an independent voice for Arkansans.
Earlier this year, Lincoln helped establish the bipartisan “Gang of 10” after the debate on energy reform between Democratic and Republican Senate leaders reached a stalemate. Her efforts focused much-needed attention on the issue of high energy prices, helped facilitate passage of important energy tax incentives to promote efficiency and alternative energy sources, and laid the groundwork for further debate in the new Congress in 2009. Lincoln has said that in order to lessen our nation’s dependence on foreign oil and strengthen our economy, we need a comprehensive plan that includes a focus on renewable and alternative sources of energy and measures to increase domestic production of oil through responsible drilling.
Through her seat on the Senate Finance Committee, Lincoln has worked with moderates of both parties to provide tax relief for America’s working families. In 2001, Lincoln worked across the aisle with her Finance Committee colleagues to create a bipartisan tax relief package that provided tax cuts for millions of lower- and middle-income taxpayers. President Bush’s original plan failed to give almost 50 percent of Arkansas’s wage earners a tax cut. Lincoln focused on making the child tax credit fully refundable, providing marriage penalty relief for working families; and, as a result of her efforts, an additional 140,000 Arkansas families–who would have been left out of the initial Bush proposal–received tax relief under the bipartisan compromise package.
In addition, Lincoln has been a strong advocate for estate tax reform and believes in a long-term solution that will provide meaningful and permanent relief for family-owned farms and businesses.
“I’ve long argued that the estate tax is an unfair burden on small businesses and farmers that penalizes the behaviors we should be encouraging—working, saving, and investing,” Lincoln said. “Our small businesses are the economic engines and sources of jobs for our communities and they need certainty, not more pressure in these difficult times. As the Senate Finance Committee examines tax reform next year, I don’t believe a temporary extension of 2009 law is enough to give our small businesses the certainty they need.”
In 2003, Lincoln supported the Medicare Modernization Act, which added prescription drug coverage (“Part D”) to Medicare. Lincoln was one of a handful of Democratic congressional members to support the bill. Lincoln pointed to expanded coverage for seniors in Arkansas coupled with a strong rural health care section as key reasons for her support.
“The prescription drug plan was the right thing to do for our nation’s seniors,” Lincoln said. “The bill was not perfect, but it made prescription drug coverage a reality for Arkansas’s 500,000 Medicare beneficiaries. I worked to make necessary improvements to Medicare Part D prior to its implementation in 2006, and I continue to propose legislative fixes to ensure it is the best program it can be for beneficiaries, particularly our low-income seniors, and for providers alike.”
Early in the implementation of Part D, pharmacists had to take out loans in order to fund the up-front capital they needed to cover prescription drug costs until the Part D plan reimbursement stabilized. Lincoln was instrumental in passing legislation to insure that the insurance companies pay pharmacists promptly for their Medicare Part D claims. Also, Lincoln has been instrumental in securing funding for the Area Agencies on Aging (AAAs) and Senior Health Insurance Information Programs (SHIIPs) to provide Medicare Part D outreach to beneficiaries in need of assistance.
CQ’s “Senators in the Middle” rankings are based on votes analyzed during the seven and a half years of the Bush presidency through July 18, 2008.



Comments
Why shouldn't a person be allowed to leave his estate, however large or small, to his wife and children without paying further taxes on it? I just don't understand the Politics of Envy. Full disclosure: my father left me $4,300 and I expect to leave my grandchildren a little more than that, but probably not enough to incur Max's scolding.
Posted by: Casimer Pulaski
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December 19, 2008 05:57 PM
Even if the greedmiesters manage to remove Rep Chas Rangel from chair of House Ways and Means Committe they still won't get estate taxes eliminated. Their pipe dream time has come and gone.
They had control for 5 years. Que pasa?
Posted by: eLwood
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December 19, 2008 06:12 PM
>>>Why shouldn't a person be allowed to leave his estate, however large or small, to his wife and children without paying further taxes on it?<<
Innocent enough question.
Why should mega farmers who recieved millions of tax payers' money over the year in the form
of "acreage allotments", crop subsidies and other such giveaways bitch about paying back some of it?
Posted by: eLwood
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December 19, 2008 06:15 PM
The point of the estate tax is that estates are not assembled without the help of the government. Government provides the environment that helps businesses exist and thrive. Try assembling an estate without the benefits of peace, security, and other civic supports. The very idea that these mass fortunes, large or small, were not created without the support of the greater society is arrogant, asinine and a commonly accepted myth. We all love the myth of the totally self-made man, but it's a lie.
To simply subject a portion of those estates to taxation is only right. It's not the politics of envy. It's the politics of responsibility. Estates certainly should not go to the state, but they should not be exempt from reasonable taxation.
When you see a turtle perched on top of a fence post, you know he had some help getting there.
Posted by: Perplexed
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December 19, 2008 06:25 PM
Hear! Hear! Perplexed. Well put.
.
Posted by: eLwood
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December 19, 2008 06:40 PM
The estate tax seems to me to be one of the fairest a government could devise. Between being taxed on income, which I've earned by providing a good or service to society, and an inheritance, which I've been given regardless of my productivity, I'd rather be taxed on my inheritance.
There's been a lot of speculation about which Republican might run against Lincoln. Has there been any talk of a legitimate Democratic challenger for her seat? I would gladly vote against her, given a half-way palatable option.
Posted by: ARHawk
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December 19, 2008 07:12 PM
"Has there been any talk of a legitimate Democratic challenger for [Lincoln's] seat?"
Jim Argue has been begged to no avail. It's been suggested to Vic Snyder to no avail. It's been discussed with Mike Ross to no avail (he wants to be governor). It's been suggested mega times to Rep. Gene Shelby of Hot Springs to no avail. Nobody, it seems, wants to "rock the boat." The only hope is Halter. He has the money and could pull it off, despite the fact that many in the party despise him.
Posted by: durangokid
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December 19, 2008 08:45 PM
Pryor got sent back to DC with 80% of the vote, which sounds great until you find out he really didn't have an opponent. Ms Kennedy spending 500 bucks statewide on yard signs does not a viable candidate make. But Pryor got a free gift from the people of Arkansas. I'll live.
Blanche is going to have a lot more trouble getting re-elected because by the time we get to vote against her, we will have had almost 2 years of Barack Obama. Blanche will be running in a different era than Mark did. That's not good for Blanche because by November, 2010, a whole lot of Arkansas voters will have been reminded of what a good Democrat is. And it isn't Mark Pryor or Blanche Lincoln!
Already Max has turned on Lincoln much earlier and stronger than he hit Pryor. Our current financial meltdown will not bode well for our Wal-Mart Senator, too bad it didn't come early enough to hurt AT&T Senator Pryor, guess we'll just have to hope Pryor gets caught Elliot Spitzer style or something. I predict by election time, Lincoln's "Independent voice" will sound too Republican and her voting record will be like burning tire around her neck. If Obama can restore a little honesty and dignity to Congress, good people might start running again and that means Blanche might have a real opponent in the primaries. That will be good for Arkansas and the USA.
Posted by: Deathbyinches
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December 19, 2008 09:38 PM
Blanche Lincoln for Re-election to the U.S. Senate 2010
Bah! Humbug!
I will seriously consider voting for any Republican instead. At least then you could have more trust in how the candidate would vote on every issue.
Posted by: docholliday
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December 19, 2008 10:16 PM
If we believe in a level playing field, that a person should rise or fall on their own merits, then the estate tax is a very good thing.
I have too many Republican friends who inherited big money and who sit around grousing about things like increasing the minimum wage.
If they had had to start in the 'hood, they'd be in prison or dead, because they don't have one iota of what it takes to work and be successful.
Posted by: The_New_Deal
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December 20, 2008 09:33 AM