There are two certainties in life, death and taxes, and apparently they should coincide. Democrats blocked a bill in the Senate to raise the minimum wage and lower the estate tax or “death” tax at the same time.
When faced with this dilemma, they Democrats decided that it is more important to steal from the dead than to help the income of their poor constituency.
Republicans compromised two times on this bill.
1. Most Republicans are opposed philosophically to an artificial barrier and would prefer to let market forces determine the minimum wage. By creating a barrier higher than the market will bear, jobs are actually lost.
2. Republicans believe the “death tax” should be completely eliminated since it results in unfair double taxation. Removal of the death tax would also further stimulate the economy. However, Republicans were willing to settle for a reduction in the tax instead of a complete elimination. Who benefits most from a reduction in the death tax? I would say the middle class. Most families could use any sort of inheritance they can get. In general, wealthy families don’t rely on an inheritance to pay for college or the mortgage.
Ok so let’s recap. The minority party in this country feels no obligation to compromise and has effectively harmed their coveted base of the poor and middle class all so the Republicans are not able to claim victory before the elections. I don’t see a lot of points scored here.
Technorati Tags death tax, minimum wage, Republicans, Democrats, politics
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