Friday, August 04, 2006

Rich Vs. Poor...In The CAGE!

Posted by codemorse

From CNN.com:

A Republican election-year effort to fuse a cut in inheritance taxes on multimilllion-dollar estates with the first minimum wage increase in nearly a decade was rejected by the Senate late Thursday.

Republicans needed 60 votes to advance their bill, which links a $2.10 increase in the $5.15 federal minimum wage over three years to reductions on estate taxes next decade. Passed by the House last Saturday, the bill got a 56-42 vote, four votes short of succeeding.

For Republicans, the combination could have neutralized a Democratic campaign issue while also advancing an estate tax cut, a priority that may have an uncertain future if the GOP loses seats in Congress in November's election.

The GOP strategy put Democrats in an uncomfortable position. Either they could vote against the bill -- thus rejecting a minimum wage increase -- or they could vote for it -- thus agreeing to cut taxes on multimillion-dollar estates. Most rejected the bill, blocking a GOP victory months before the election.

1 Comments:

At 6:28 PM, Anonymous portia said...

Good.

 

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