More from our D.C. contributor Paul Barton:
The negative publicity Sen. Blanche Lincoln has received for her recent effort to reduce estate taxes has not subsided.
The liberal Center on Budget and Policy Priorities, a Washington think tank, told the Times today it believes fewer than 30 estates in Arkansas would have benefited from Lincoln and Republican Sen. Jon Kyl’s proposal to raise the per-couple exemption on the estate tax from the $7 million to $10 million and reduce the rate on the remainder from 45 percent to 35 percent.
The Bangor Daily News in Maine this week became the latest in a long list of east coast papers to editorialize that the Lincoln-Kyl proposal was a wrongheaded favor for the wealthiest Americans and that Congress should continue the current tax treatment, as President Obama wants.
Lincoln and Kyl had argued many family farms and small businesses remained in danger of being taxed out of existence at current rates.
Geez. You would have thought the negative pub would have stopped late last month when Congress approved a budget outline stripped of the Lincoln-Kyl proposal. But liberal bloggers have had a field day with that too, rubbing salt in the wounds with “tough luck Blanche” and similar expressions.