Action Item: Estate Tax Repeal Today 
The U.S. Senate on Thursday killed a bill backed by President George W. Bush that would have permanently repealed estate taxes. On a vote of 57-41, the Senate blocked consideration of a bill passed by the U.S. House of Representatives that would wipe out what Republicans call the "death tax." Republican backers had acknowledged they were short of votes for full repeal, but they had hoped to offer an alternative that would have reduced the tax rate and exempted all but the wealthiest estates from the tax.Frist had thought he was two votes short. So much for his judgment. Despite this success, contact your Senators and congratulate them, encourage them to continue to fight for middle-class Americans, and vote for the best interests of the country. Today's the day Bill Frist will try to ram the vote through on repealing the Estate Tax--the so-called "Paris Hilton" tax.
While this tax benefits only the top 1% of all Americans, and the 14 families (including the Wal-Mart heirs, the Mars heirs, and others) pushing this have lobbyied long and hard for the repeal, the netroots have an important part to play here.
If you haven't already contacted your Senator, DO SO TODAY!!!
Surely Frist is concerned only about his own financial interests here, but he's also counting on the fact that we'll all be distracted by the Al-Zarqawi news and other items.
Begin by contacting two important "wobbly" Democrats: Maria Cantwell and Mark Pryor.
Background below the fold.
From the Times:
An analysis by the center showed that repealing the tax would offer little or no tax-savings benefit for 80 percent of Americans. The estate tax savings from repeal in 2011 would be significantly more than the total income taxes paid by the poorest half of Americans. The 65 million taxpayers who reported incomes of less than $29,000 in 2003 paid $25.9 billion in income taxes.
Republican Framing (via Bloomberg's Gene Sperling):
Republican lawmakers refer to the levy as a ``death tax'' and hope that abolishing or reducing it will boost their appeal with voters in the closely contested November congressional elections. Although fewer than 1 percent of families are subject to the tax, critics such as Kyl say many small-business owners spend hundreds of thousands of dollars on lawyers and life insurance premiums to avoid paying it.
Repeal of the "death tax" is, in fact, a "birth tax," says Diane Lim Rogers, a scholar at The Brookings Institution. "This 'birth tax' is a true cost imposed on all American babies. It cannot be repealed, no matter how upset Americans eventually get about it."Citizens should demand an end to the birth tax.
For talking points, see the OMB watch, who argues strongly against repeal. (Warning: a pdf file)
Here's another helpful link for specifics and just how important this tax revenue has been for the federal budget historically.
There's lots more out there, but I'm following the "debate."
Time to get busy, if you want to have your voice heard.
KEYWORDS: Estate Tax, Senate, Frist, middle class, tax repeals
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