Aug. 05, 2006 - 00:12 MDT

NOT CUT

I guess it should been within my expectations, but hopes were there that it would be otherwise. An article in this morning's Rocky Mountain News by Mary Dalrymple of the Associated Press gives the details, herewith quoted in full:

HIGHER MINIMUM WAGE FAILS

Senate votes 56-42 against increase and a cut in estate taxes

WASHINGTON -- "A Republican election year attempt to fuse a cut in inheritance taxes on multimillion-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 in estate taxes next decade. Passed by the House last Saturday, the bill got a 56-42 vote, four votes short of succeeding."

"Colorado GOP Sen. Wayne Allard voted for the bill; Democratic Sen. Ken Salazar voted against it."

"For Republicans, passage of the bill could have neutralized a Democratic campaign issue while also advancing an estate tax cut, a priority with uncertain prospects if the GOP loses seats in Congress in November's election."

"The GOP strategy put Democrats in an uncomfortable position: Either reject a minimum wage increase out of opposition to cutting estate taxes or agree to cut taxes on multi-million-dollar estates. Most rejected the bill."

"Senate Finance Committee Chairman Charles Grassley, R-Iowa, likened the minimum wage and estate tax bill to "a long shot" bet on racing horses"

"Republicans were dealt a blow when two Democrats, Sens. Maria Cantwell and Patty Murray, both of Washington, announced their opposition. "This is a cynical ploy on the part of the Republican leadership in an election year," Cantwell said in a statement."

"Senate Majority Leader Bill Frist, R-Tenn., had tried repeatedly this year to repeal or reduce the estte tax, derided by as the "death tax" by its opponents."

"An earlier bid to move an estate-tax bill to debate fell three votes short of succeeding. Frist and House Republican leaders had hoped adding the minimum wage, along with a package of popular tax cuts, could carry it to passage."

"Among other things, the bill resurrected deductions that expired last year for state sales taxes, tuition and teachers' classroom supply purchases, along with a business research and development credit."

"The bill had extra items to entice Democrats uneasy about voting for the estate-tax reductions; a cut in timber capital gains taxes, rural development incentives and a program cleaning up abandoned coal mines."

"Democrats criticized the GOP for only agreeing to increase the minimum wage to $7.25 over three years and said voters will understand the Democratic opposition to cutting the estate tax, even though it rejects a higher minimum wage."

"The American people won't fall for it," said Senate Minority Leader Harry Reid, D-Nev."

+++++++++++

$2.10 an hour increase spread over three years is what ? $.70 per hour per year ? How can that possibly keep up with the rising cost of living ?

To this simple minded person it appears that the upper crust is trying to absolutely do away with us who feel we are on the lower edge of being "middle class" citizens. Drastic tax cuts which benefitted the very rich and brought only a few extra bucks to most of us were bad enough. But they keep trying to do away with estate taxes, which were one sure way of keeping the biggies from forming dynasties. Heirs who work not nor do much of anything but spend money.

Makes me wonder how folks who work for the minimum wage of $5.15 manage to pay rent on a room, feed and clothe themselves as well as get to and from work. And what can they do for fun and entertainment ? Anybody checked what it costs to go to Six Flags lately ?

In a way it explains to me why married couples both work in effort to keep going. Also explains to me why it appears that most middle class folks will never be able to afford a house of their own.

We are not talking about welfare, but minimum wage --- money for which people work and work hard. Thinking about the jobs that pay a minimum wage and the sweat, tension and conditions that people endure to make that "minimum wage."

I am not against a person leaving enough of an estate to take care of his offspring. A decent amount -- not millions or billions as inheritance but sufficient to keep them in reasonable comfort.

The millions that CEOs get ? Seems to me that they have done little to earn that amount. Golden parachutes ? Ha, what kind of parachute does the average worker have to ease his way down when laid off ? And how long will that last ?

It is also obvious to me that training for a trade, acceptance of responsibility and things like that should pay much better than the average plodder makes, but remember if it weren't for the average plodder there wouldn't be anything for the higher ups to have. OH yes, I forgot the plodding work has been shifted overseas, including some of the high tech work.

Perhaps I shold kneel and give thanks that the minimum wage remains stable and NOT CUT . . . . . . . . . . . .

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