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Showing Original Post only (View all)Surprise -- Max Baucus trying to kill President Obama's plan to tax the wealthy with the estate tax [View all]
Trying to snatch defeat from the jaws of victory, Baucus is.
President Obama just proposed raising the estate tax rate from 35 to 45 percent and lowering the exemption to $3.5 million. This would still result in the tax falling almost entirely on the backs of the very richest Americans.
But Senate Finance Committee Chairman Max Baucus (D) is moving to kill Obamas progressive proposal to tax millionaires. Rural Montana is much different than urban America, he told Reuters, claiming that the tax would fall on the backs of family farmers.
But only 100 farming estates pay the estate tax now. Under Obamas plan, only the 300 richest farming estates would have to pay the tax.
Is Baucus really going to try to kill Obamas progressive plan to ask more from the wealthy in order to protect Americas 300 richest, multi-millionaire farmers?
Read more: http://boldprogressives.org/senator-trying-to-kill-tax-on-millionaires-by-saying-he-doesnt-want-to-tax-rural-montana/
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Surprise -- Max Baucus trying to kill President Obama's plan to tax the wealthy with the estate tax [View all]
Report1212
Dec 2012
OP
Thanks for the heads up on this...I say a phone call to Sen. Baucus is in order. America is too
Ninga
Dec 2012
#2
We better! Max also voted against our last real jobs bill...one of four DINO's to do so !
SugarShack
Dec 2012
#14
if rich people hate income taxes how many need to pay estate taxes to balance budget??
kooljerk666
Dec 2012
#27
The estate tax on family farms or any estate for that matter needs to be disarmed as an issue.
LiberalFighter
Dec 2012
#37