Estate tax lives -- UPDATED | Arkansas Blog

Thursday, June 8, 2006

Estate tax lives -- UPDATED

Posted By on Thu, Jun 8, 2006 at 11:03 AM

A Republican-led effort to slash the estate tax failed to advance by three votes in the Senate today. Needing 60 votes, the measure got a 57-41 vote. It would have raised the tax exemption from $4 million for a couple to $10 million (from $2 million to $5 million for an individual) and dropped the tax rate on estates up to $30 million from 46 percent to 15 percent.

UPDATE: Wal-Mart Watch has a Walton-related comment on the vote, including a handy link to Walton contributions to members of the Senate (a potful, surprise, to Blanche Lincoln, the billionaire's pal). Find it on the jump.

NOTED: Lincoln voted with the Republicans for the windfall for billionaires. Mark Pryor voted no.

 

WAL-MART WATCH NEWS RELEASE

$8.7 BILLION WALTON JACKPOT DELAYED 

Washington, D.C., Thursday, June 8, 2006 – Wal-Mart Watch executive director Andrew Grossman issues the following statement in response to today’s vote on federal estate tax repeal:

 

“Today’s failed vote is only a small setback for the Walton family’s campaign to abolish the estate tax and increase their inherited wealth by billions. Over the past ten years, the Waltons and their lobbyists have funded think tanks and poured a staggering $800,000 into the political campaigns of 80 current members of the U.S. Senate. Their enormous payoff nearly arrived today, in the form of an $8.7 billion gift from Congress. This legislation, considered while 46 percent of Wal-Mart children are uninsured or on Medicaid, speaks volumes about the Waltons’ self-serving political priorities. The Waltons are spending millions to increase their inherited billions, and we challenge them to spend an equal portion on a fund to provide affordable health care for their employees.”

Background research on the Waltons’ campaign to repeal the estate tax:

http://walmartwatch.com/img/documents/WMT_Estate_Tax.pdf

 

Walton and Wal-Mart contributions to 80 of 100 U.S. Senators:

http://walmartwatch.com/img/documents/WMT_Senate_Contributions.xls


Sign up for the Daily Update email
Favorite

Comments (31)

Showing 1-31 of 31

Add a comment

 
Subscribe to this thread:
Showing 1-31 of 31

Add a comment

More by Max Brantley

  • The suffering children's open line

    Until it's fixed, nobody is doing enough to resist the Trump administration's cruel and thoughtless handling of asylum-seeking children.
    • May 27, 2018
  • Arming teachers: An insurance complication

    Gun lovers in the Arkansas legislature are spoiling to put more guns in classrooms at the earliest opportunity. Today, the Washington Post reports a complication — from insurance companies.
    • May 27, 2018
  • Razorbacks plan a return to real grass in 2019

    I don't know why the news of a return to real grass at Razorback stadium seemed like such good news to me. Old fogey, I guess.
    • May 27, 2018
  • More »

Readers also liked…

  • The inspiring Hillary Clinton

    Hillary Clinton's campaign for president illustrates again the double standard applied to women. Some writers get it. They even find the supposedly unlikable Clinton inspiring.
    • Oct 16, 2016
  • Trump's strangulation of Obamacare

    If he can't kill it outright, Donald Trump will do all he can to cripple Obamacare. Vox has detailed reporting on deep cuts in federal spending that support nonprofit agencies that help people sign up for coverage under the Affordable Care Act.
    • Sep 18, 2017
  • UPDATE: Hutchinson moves to cover himself on cut to War Memorial Stadium

    Gov. Asa Hutchinson apparently felt the burn from KARK's exclusive Tuesday night on his plans to cut state support of War Memorial Stadium in half beginning July 1, 2018. He has a so-far secret plan to make the stadium self-sustaining. We bet that doesn't include state support.
    • Oct 20, 2016

Most Recent Comments

Slideshows

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation