Blanche Lincoln, in cahoots with the GOP, trying to "fix" the estate tax to aid the super-wealthy

[brentspeak]

DLC Blanche, collaborating with John Kyl, is in breathless rush to "fix" the estate tax before it can be restored to the 55% level on estates worth more than $1 million. She trots out the usual desperate lie that the estate will adversely affect family farmers -- even though http://www.nytimes.com/2005/07/10/politics/10tax.html">the vast majority of wealthy farmers are not touched by the estate tax.

http://thehill.com/blogs/on-the-money/domestic-taxes/111681-lincoln-urges-quick-action-on-the-estate-tax

Lincoln urges quick action on the estate tax
By Jay Heflin - 07/29/10 03:05 PM ET

Sen. Blanche Lincoln (D-Ark.) on Thursday urged quick action on fixing the estate tax, which is scheduled to return in about five months. "I think it's something that has to be done, and it should be done sooner rather than later," she told reporters.

Lincoln recently joined Sen. Jon Kyl (R-Ariz.) in trying to amend the Senate's small-business jobs bill with a measure creating a permanent fix for the tax. Their proposal would tax estates worth more than $5 million at 35 percent. These amounts would be phased in over a 10-year period and be indexed for inflation.

The senators attempt to add their proposal to the small-business bill was rejected by Democratic leaders. The estate tax is currently repealed but returns in January with a 55 percent tax on estates worth more than $1 million.

Absent congressional intervention, Lincoln warns farmers will be hit hard by the tax because their assets are tied up in the equipment and land they use to keep their businesses afloat. "They're all people that have their money, their resources, their assets tied up in something that's not liquid," she said, adding, "You look at farm implement equipment; some of it is $400,000 or $600,000 for one piece of equipment. If you own 1,000 acres of property that's worth $2,000 or $3,000 an acre, you're going to have to sell your business to pay the tax."

[mitchum]

1. No surprise there; she's an errand girl for the scumbag Walton family

[Jakes Progress]

2. Whew. That was close.

Imagine if the DLC and the administration hadn't pulled out every stop and sent all their horses into her election. I mean. The Waltons might have to pay some taxes. Dodged one there.

[dbt]

3. Even as she stares into the jaws of defeat,

she just has to act like a Republican. She can't stop herself. Bless her heart, Miz Blank needs to wake up and smell the toast.