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.


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…


  • Arkansas vs Ole Miss at War Memorial stadium in Little Rock, Saturday, Oct. 13, 2018. After leading for much of the game, Arkansas lost 37-33 when Ole Miss scored the game winning Touchdown with less that 2 minutes left. 
  • Margaret Clark Adventure Park
    New sculptures, preschoolers play area dedicated in Riverfront Park in Little Rock.

Most Recent Comments


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