Ten Senate Democrats Lose Their Minds: Vote FOR Estate Tax Cut
Now, c'mon, this is entirely absurd. We already have the widest gap between rich and poor in many generations. Republicans (and some Democrats) are trying to cut the Administration's proper and wise investments in infrastructure and wise energy efficiency programs. And, in the midst of all that, the Senate does what? Votes to cut the estate tax (which effects only the richest Americans) thanks to the votes of ten Senate Democrats. This is the definition of insanity.
By a vote of 51-48, the Senate approved an amendment by Senators Blanche Lincoln (D-AR) and Jon Kyl (R-AZ) to raise the exemption on estate tax threshold to $5 million for individuals and $10 million for couples and cut the tax for anyone over that threshold from 45 percent to 35%. The cost: about $100 billion over ten years.
Here was the vote (with the moronic Democrats in bold):
YEAs ---51
Alexander (R-TN)
Barrasso (R-WY)
Baucus (D-MT)
Bayh (D-IN)
Bennett (R-UT)
Bond (R-MO)
Brownback (R-KS)
Bunning (R-KY)
Burr (R-NC)
Cantwell (D-WA)
Chambliss (R-GA)
Coburn (R-OK)
Cochran (R-MS)
Collins (R-ME)
Corker (R-TN)
Cornyn (R-TX)
Crapo (R-ID)
DeMint (R-SC)
Ensign (R-NV)
Enzi (R-WY)
Graham (R-SC)
Grassley (R-IA)
Gregg (R-NH)
Hatch (R-UT)
Hutchison (R-TX)
Inhofe (R-OK)
Isakson (R-GA)
Johanns (R-NE)
Kyl (R-AZ)
Landrieu (D-LA)
Lincoln (D-AR)
Lugar (R-IN)
Martinez (R-FL)
McCain (R-AZ)
McConnell (R-KY)
Murkowski (R-AK)
Murray (D-WA)
Nelson (D-FL)
Nelson (D-NE)
Pryor (D-AR)
Risch (R-ID)
Roberts (R-KS)
Sessions (R-AL)
Shelby (R-AL)
Snowe (R-ME)
Specter (R-PA)
Tester (D-MT)
Thune (R-SD)
Vitter (R-LA)
Voinovich (R-OH)
Wicker (R-MS)NAYs ---48
Akaka (D-HI)
Begich (D-AK)
Bennet (D-CO)
Bingaman (D-NM)
Boxer (D-CA)
Brown (D-OH)
Burris (D-IL)
Byrd (D-WV)
Cardin (D-MD)
Carper (D-DE)
Casey (D-PA)
Conrad (D-ND)
Dodd (D-CT)
Dorgan (D-ND)
Durbin (D-IL)
Feingold (D-WI)
Feinstein (D-CA)
Gillibrand (D-NY)
Hagan (D-NC)
Harkin (D-IA)
Inouye (D-HI)
Johnson (D-SD)
Kaufman (D-DE)
Kennedy (D-MA)
Kerry (D-MA)
Klobuchar (D-MN)
Kohl (D-WI)
Lautenberg (D-NJ)
Leahy (D-VT)
Levin (D-MI)
Lieberman (ID-CT)
McCaskill (D-MO)
Menendez (D-NJ)
Merkley (D-OR)
Mikulski (D-MD)
Reed (D-RI)
Reid (D-NV)
Rockefeller (D-WV)
Sanders (I-VT)
Schumer (D-NY)
Shaheen (D-NH)
Stabenow (D-MI)
Udall (D-CO)
Udall (D-NM)
Warner (D-VA)
Webb (D-VA)
Whitehouse (D-RI)
Wyden (D-OR)
Let's quickly review the issue of the estate tax. The tax only effects a few thousands very wealthy people. As the Citizens For Tax Justice pointed out several years ago:
In 2003, 2,448,288 Americans died. But only 30,276 of these decedents left behind enough to owe any federal estate tax in 2004 (when returns were generally due). This handful of taxable estates paid $21.6 billion in federal estate taxes.
The 30,276 taxable estate tax returns represented just 1.24 percent of all the people who died in 2003.
Most of the $21.6 billion in federal estate taxes was paid by a tiny number of the very largest estates. The 520 taxable estates worth over $20 million paid more than a quarter of the 2004 estate taxes. And the 3,494 taxable estates worth over $5 million—0.1 percent of decedents—paid 62 percent of all federal estate taxes.
And almost three years ago, it was revealed that, far from being a "grassroots" movement for small farmers and oppressed small business, the campaign was funded by a secret cabal of extremely wealthy people, including the Wal-Mart family.
So, this is simply a pay-off to rich campaign contributors.
Have these Democrats lose their minds?
I would add one last political point: if you are looking for the votes that might undercut the Employee Free Choice Act or national health care (read: let's do what the big private insurance companies want), you can just sift through the ten Democrats who voted for this tax give-away to the wealthy.
Comments
And your shocked?
Jonathan - each and every time you post a discussion on a piece of legislation, I try to make the point that legislation without direct action is useless. Here again - we have legislation upon which no direct action was taken, other than the direct action of really, really rich people giving more of their money to politicians. What is to be our answer - run different Democrats in the next primary? This is not working, and unless people are willing to hit the streets, withhold their labor, and prevent the rich from accumulating even more money - we will see this happen again and again and again. I would say based upon the position taken by President Obama on teachers (can you say merit pay?), this vote and other disturbing trends coming from DC -there will be no EFCA and there will be no universal healthcare in any form during this administration. The best news so far in 2009 is that gay people are gaining some measure of respect in Iowa of all places. Please don't act so incredulous every time a Democrat screws us. The is only one fight in this country, and it is not Jew-Islam-Christian, gay-straight, Democrat-Republican, or black-white-hispanic-other - it is quite simply RICH-POOR, and the current activity of the poor - negotiating for a better life - is a dismal failure.
Revision not Repeal
The estate tax is essential to the provision of important government programs and policies, as well as to the preservation of democracy. Furthermore, some believe an extension of the 2009 estate tax policy is a tax break for millionaires. For more information: http://faireconomy.org/news/estate_tax_action_alert_12109