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Originally Posted by GenuineRisk
Hey, Rupert!
I know EXACTLY what this is referencing, so I'm happy to shed a little light-- the Republicans in Congress, who have been objecting to raising the minimum wage for several years, put in a bill to raise it-- in the same bill pushing to repeal the estate tax. The estate tax, of course, affects the estates of only the super super rich (top 2 percent) and ending it would really affect the gov't revenue, and eventually, support programs for people who don't have multimillion dollar estates. What the Dems are objecting to is not raising the minimum wage, but repealing the estate tax. But since the Republicans were crafty and put them in the same bill, by voting down the one they vote down the other. So, that's why Frist claims the Dems don't want the minimum wage raised. It's not that. It's that they don't want the estate tax repealed. They're making a hard decision-- voting down the immediate benefit of the working poor so as not to hurt them farther down the road, with the loss of the estate tax income. And I think they're hoping they can regain Congress soon, and get it raised without having to give dead rich guys a handout, too. They're in a tough position though. Hope they do the right thing.
As angry as this move by the Republicans makes me (putting the wage raise in the same bill as the estate tax repeal) I have to admire their craftiness-- they really know how to play the game to make the opposing side look like the bad guys, because they figure most people won't take time to explore the full story. Good for you for not taking it at face value.
Here's an interesting essay on the estate tax.
http://www.tnr.com/doc.mhtml?i=20060515&s=trb051506
DTS, I'll read the article in a few days. This is the first I've even been on DT today-- very busy at work! Miss you all much, my favorite libbers, cons, and swingers.  |
I figured that it was a half-truth. I'm glad you clarified it for me. I hate that when they tell half-truths. I don't care what party the person is in. It's an insult to the viewer when these politicians tell half-truths.
By the way, I do think they need to make major changes to the estate-tax. If you live in a place like Beverly Hills where real-estate is expensive, and average house that is 4000 square feet is worth over $2 million. If your motherd died and left you the house, you would probably be forced to sell the house just to pay the estate-tax on the house. You'd probably owe the government $800,000. That's not fair. I don't think you should owe the government anything in that case. I don't know if they should totally get rid of the estate tax, but I think they need to raise the amount that you can inherit without paying taxes. I think the first $5 million or so should be tax-free.