Estate Tax Key Objection Of House Democrats

[bigtree]

Angry House Democrats identified their key objection to President Obama's tax cut compromise Tuesday night, after they were briefed on the deal in a private meeting by House Speaker Nancy Pelosi and other leaders.

Several members are withholding their support for the legislation unless the details of an estate tax agreement between the White House and Senate Republicans become more progressive.

In the package Obama negotiated with the GOP, the rate would be set at 35 percent, on estates worth more than $5 million. As a feature of the Bush tax cuts, there currently is no estate tax, but it is scheduled to jump to over 50 percent on estates above $675,000 at the end of the year. Democrats see a middle way: a threshold of $3.5 million, and a rate of 45 percent.

____ Their greatest hope might actually come from conservatives who are beginning to defect from the plan. Past a certain point, the more Republicans defect, the more influence these Democrats have -- their votes could become necessary to pass a bill. But for now it's unclear that they will be.


read: http://tpmdc.talkingpointsmemo.com/2010/12/house-dems-identify-key-objection-to-obama-tax-compromi.php

[Ozymanithrax]

1. If it should pass the House...

The Senate will strangle this bill to death.

[aquart]

2. Something needs to be strangled.

Something or somebody. Whichever.

[Ozymanithrax]

3. I absolutly oppose violence...

The problem, of course, is that the good will expire with the bad.