News release this morning from Sen. Lincoln’s office on jump. She says it’s time to protect farmers. Right.
Update: Blog reader Stephen Koch (no relation to billionaire David mentioned below) alerts us to this article in Talking Points Memo on the position taken by Lincoln’s pal on the estate tax proposal, Minority Whip Jon Kyle, and other Repubs that tax cuts generate money for the treasury and don’t need to be paid for, but extending unemployment benefits don’t and do.
Please note that the cut in the top estate tax, from 45 to 35 percent, will be worth a cool $9 billion at current values to just the top five Walton estates. 9 BILLION. Who’ll pay for that lost revenue (not just from Waltons but Kochs, etc.) over the years? The working schlubs, that’s who.