The top 100 support Lincoln | Arkansas Blog

Wednesday, April 8, 2009

The top 100 support Lincoln

Posted By on Wed, Apr 8, 2009 at 6:10 AM

The New York Times is back again on the estate tax, which Sens. Blanche Lincoln and Mark Pryor desperately want to reduce (they prefer repeal, but it's not currently an option).

The editorial notes that, under existing law, only 100 estates in the whole United States would owe taxes in 2011. You can be sure all of them have made provisions to pay the bill through trusts, planned giving, insurance, ready cash, etc. The question for Lincoln, Pryor and eight other Democrats who favor cutting the existing rate dramatically, thus producing a windfall to the super rich (it would be worth hundreds of millions, eventually billions, to stalwart Lincoln supporters in the Walton clan):

Last week, as the unemployment rate hit a 25-year high and nearly one in 10 Americans was receiving food stamps, 10 Democrats in the Senate joined all 41 Republican senators to cut estate taxes for the wealthiest families. The provision would funnel an additional $91 billion over 10 years to the heirs of megafortunes, money that would otherwise have been paid in federal taxes or donated to charity.

With economic pain and suffering on the rise, how do the senators justify a big tax cut for multimillionaires? By asserting that an estate tax cut is just what struggling Americans need.

From the ArkTimes store

Favorite

Comments (7)

Showing 1-7 of 7

Add a comment

 
Subscribe to this thread:
Showing 1-7 of 7

Add a comment

More by Max Brantley

Readers also liked…

  • Saturday's open line

    Got any thoughts? Put them here.
    • May 21, 2016
  • Today in Trump: Obstruction of justice anyone?

    It's the New York Times with the news today. Fired FBI Director James Comey kept notes of his talks with Donald Trump. A memo he wrote in February after a meeting with Trump said the president asked him to shut down the investigation into Michael Flynn, his former national security adviser.
    • May 16, 2017
  • Civil War over in Fort Smith; lawyer strikes his Rebel mascot battle tent

    KSFM reports that Joey McCutchen, the lawyer who's been trying to restart the Civil War in Fort Smith over the School Board's decision to drop the Rebel mascot and related trappingsfor Southside High School, is dropping his School Board takeover campaign.
    • May 27, 2016

Most Shared

  • Industrial hemp pilot program coming soon to Arkansas

    One of the booths at this week's Ark-La-Tex Medical Cannabis Expo was hosted by the Arkansas Hemp Association, a trade group founded to promote and expand non-intoxicating industrial hemp as an agricultural crop in the state. AHA Vice President Jeremy Fisher said the first licenses to grow experimental plots of hemp in the state should be issued by the Arkansas State Plant Board next spring.

Most Viewed

Most Recent Comments

  • Re: Open line

    • The best meme I've seen on Sarah Sanders is as Miss Piggy. The link below…

    • on December 12, 2017
  • Re: No hacking detected in Arkansas, Mark Martin's office says.

    • I had a bad credit score and needed to increase my score, I tried some…

    • on December 12, 2017
  • Re: The prayers of Rapert

    • Baby brain Rapert praying all of the time. Not that I believe in such folklore,…

    • on December 12, 2017

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation