So the Republican Federal Anti-Marriage Amendment was defeated. Two Democrats and 47 Republicans voted for ‘cloture,’ to allow the Amendment itself to be voted on, but 60 were needed (and two-thirds would have been required for the Senate to approve the Amendment itself, and then three-quarters of the states). So that was that.
Now comes the Republican push to eliminate the estate tax. At a time of war and gigantic deficit, they call for yet another tax cut, this one exclusively (not just mainly) for the rich.
Matt Ball: ‘From the American Prospect blog:
‘If you’re ever confused about the GOP’s puzzling determination to eliminate the broadly supportable estate tax, this report showing that George Bush, Dick Cheney, and their cabinet will personally gain between $90 and $340 million dollars from the tax’s repeal clarifies things considerably. As for amassing the political will for the battle, a recent Center for Public Integrity report found that a handful of superrich families had spent $490 million lobbying against the tax. If they succeed, these same families will gain almost $72 billion. Now that’s what I call a good investment. – Ezra Klein
Quote of the Day
Capitalism without bankruptcy is like Christianity without hell.~Frank Borman (ex-Eastern CEO)
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