This time, she and John Kyle, he of the "never need to pay for tax cuts for rich folk," fame, have introduced an inheritance tax bill that is a big wet kiss for the richest families in the United States:
Their proposal would require Democratic leaders to amend the small-business jobs bill with a provision that sets the estate tax at 35 percent with a $5 million exemption. These amounts will be phased in over a 10-year period and also be indexed for inflation. In addition, inherited assets would be taxed at their worth upon transfer, not when the deceased purchased them.Of course, because of the way the Bush and His Evil Minions™ wrote his tax cuts, there is no inheritance tax at all this year, but next year, it goes back to 55% and a $1 million exemption, and, quite honestly, the "liberal" proposal is a $3.5 million exemption and a 45% rate.
Of course, when given a choice between giving something to rich heirs, and giving everything to those same heirs, Blanche Lincoln goes with giving money to the useless heir class.
The first broad based tax adopted by the founding fathers was an inheritance tax. They did it because they realized that dynastic wealth was corrosive to the republic.
But Blanche Lincoln needs those campaign dollars, so f%$# the budget and American people.
It goes without saying that the Democratic Senate Campaign Committee is backing her to the hilt, which is why you shouldn't give to the DSCC when they come calling.
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