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Limiting Eminent Domain
Okay, here is your chance...this hit Friday in email to me through my industry which follows this very closely.
Subject: Estate Tax Battle Returns to U.S. Senate
The debate over the future of the estate tax has reverted back to the U.S. Senate. I must call upon you again to contact one or both of the Senators from your state listed below to ask them to support reasonable compromise reform legislation on the estate tax.
These Senators likely hold the key to the outcome:
Arkansas - Sen. Mark Pryor (D)
Louisiana - Sen. Mary Landrieu (D)
Maine - Sen. Olympia Snowe (R) and Sen. Susan Collins (R)
Ohio - Sen. George Voinovich (R)
Oregon – Sen. Ron Wyden (D)
Washington - Sen. Maria Cantwell (D) and Sen. Patty Murray (D)
Background
The House of Representatives passed an estate tax “reform” bill, H.R. 5638, yesterday by a vote of 269 to 156. The vote was never in doubt. The Senate could take up H.R. 5638 as early as next Tuesday. The Senate took up estate tax repeal on June 8, 2006, but was unable to muster the 60 votes to overcome a filibuster.
H.R. 5638, authored by Rep. Bill Thomas (R CA), was written specifically to attract support from the above list of Senators. The key features of H.R. 5638 are:
An exempt amount of $5 million for each individual ($10 million for a married couple).
The exempt amount would become effective in 2010 and indexed thereafter.
Taxable estates above $5 million and up to $25 million will face a top rate of the capital gains rate, currently set at 15%.
Taxable estates above $25 million will be subject to a top rate that is double the capital gains rate.
Currently the capital gains rate is 15%, but that rate sunsets in 2010 and would increase to 20% if Congress does not act.
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Limiting Eminent Domain
Have not read much of the last 3 or so post but still will ask my question...I posted a notice on what was going on and who was affecting it (estate taxes)....Just wonder...how many of us rather rant and range and think that took care of it and how many took three minutes and placed a call?
It amazes me how often we don't let our politicians know or even vote and wonder why such happens. Well my friends you vote every time you spend a dollar. So how do you vote? If the local tractor dealer is really a cheat and a liar but you buy from him does he have reason to change?
We had primary run off yesterday and I voted and am disappointed with especially one race but I still took action and also espressed my concern with the winners office before the election. Oh Lord ranting and range is more fun and sometimes really needed but not without other action. Makes me think of a hunter with a gun loaded with blanks.
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Limiting Eminent Domain
On the news this weekend was I think the state of Iowa on this issue. Seems the Democrat reps and senators passed a bill limiting the ability to take land to which the Democrat Gov. vetoed. The news interviewed I beleive a Rep Mayor telling how they really needed it to take two acres of land that belonged to a lady in her 90's that did not want to see the farm land used for a railroad spur. They want the spur for a private company to build an ethanol plant that would employ 90 or so people.
Don't remember the Govneror's name but said he is a possible Democrat Presidential hopeful.
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Limiting Eminent Domain
WW,
I sure don't give the GOP all high marks but it sure is a shame what is going on with the Democrat party as a whole.
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