Confessions of a Hoosier Democrat

Blogging Indiana Politics and the 2008 Presidential Race.

Thursday, June 08, 2006

Bayh favors eliminating Estate Tax ONLY when Budget is under control

The next thing on the agenda is another pet project for the Republican Party, the Estate Tax.

It seems the Republicans are bound and determined to give the wealthy every opportunity to shirk taxes, even when we are experiencing severe budget deficits.

Sen Bayh, who voted for repealing the estate tax in 2001 when we had a budget surplus, has issued a statement saying that he will oppose repealing it this time around.
During times of surplus, I’ve voted to eliminate the estate tax. Unfortunately, today we face mounting deficits and would be forced to borrow more money from China and ask our children to pay it back with interest. That is not a responsible course.
Bravo! I really can't understand why the basic concept of budgetting is completely foreign to most Republicans. They claim they are for fiscal responsibility, yet in a time of severe budget deficits they are constantly raising expenditures while reducing income.

That is something that Sen Bayh has always been, fiscally responsible. Well done Senator.

UPDATE:
The Senate rejected the cloture motion to end debate on the Estate Tax repeal 57-41. Democrats who voted for cloture: Baucus (MT), Lincoln (AR), Nelson (FL), and Nelson (NE). Republicans who voted against cloture: Chafee (RI) and Voinovich (OH). Rockefeller (WV) and Schumer (NY) didn't vote.

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