Okay, who other than Senator Frist will admit that they thought the newly packaged estate tax reduction/minimum wage increase bill was going anywhere? Every practitioner that I spoke with saw the tacking on of the estate tax reduction to the minimum wage increase as both a death knell for the bill and politicking. Nothing more.
Democrats would, of course, not support a bill reducing the estate tax, even if it meant increasing the minimum wage.
Likewise, Republicans would not support a bill increasing the minimum wage even if it meant reducing the estate tax.
It was a dead idea from the get-go. So, why bother?
Well, in an election year, some Democrats can now say that they supported a reduction in the estate tax, while most can tout that they tried to increase the minimum wage. And some Republicans can say that they supported an increase in the minimum wage, while most will plead that they attempted to reduce the estate tax. Are our Congressional officials so out of touch that they believe that this will actually play in America? C’mon, guys (and gals). We know better.
There is a solution. What about (gasp) having the two matters on separate bills rather than porking cluttering confusing discussions about the two matters together? It is realistic to offer an increase in the minimum wage at less than a 40% increase that can result in a liveable wage and not overwhelm small businesses. Similarly, it is realistic (and indeed expected) that an increase in the federal estate tax personal exemption can accompany a reduction in federal estate tax rates, so long as they are kept in check.
Congress, are you listening? Who’s running this goofy show anyway?
