Larimer County Dems take on estate tax issue, voice support for Ken Salazar
Today the Larimer County Democrats put out a press release "supporting fiscally responsible estate tax reform to further protect Colorado's family farms, ranches, and small business, while condemning falsehoods in a recently published op-ed."
The op-ed in question was penned by CD3 Democrat John Salazar and CD4 Republican Marilyn Musgrave. And it outlines their plan to do away with the estate tax.
The Larimer County Democrats' release reads, in part:
"Musgrave is irresponsibly advancing myths that have long since been exploded," said Larimer County Democratic Party Chair Adam Bowen. "The deceptive and fuzzy math in this column severely questions Musgrave's basic familiarity with the subject." [Ed. - Complete release posted in the comments]
The press release came with a draft of a resolution that the Larimer County Democrats passed last Thursday. It's interesting not just because of its strong stand, but because it ends on a positive note:
NOW, THEREFORE, BE IT RESOLVED BY THE LARIMER COUNTY DEMOCRATIC PARTY that it supports the efforts of Senator Ken Salazar to encourage a bipartisan solution to the estate tax that is fiscally responsible and sustains Colorado's vital family farms, ranches, and small businesses.
So a big sign of support for Ken and a slap on the wrist to John, courtesy of the Larimer County Democrats.
The op-ed in question was penned by CD3 Democrat John Salazar and CD4 Republican Marilyn Musgrave. And it outlines their plan to do away with the estate tax.
The Larimer County Democrats' release reads, in part:
"Musgrave is irresponsibly advancing myths that have long since been exploded," said Larimer County Democratic Party Chair Adam Bowen. "The deceptive and fuzzy math in this column severely questions Musgrave's basic familiarity with the subject." [Ed. - Complete release posted in the comments]
The press release came with a draft of a resolution that the Larimer County Democrats passed last Thursday. It's interesting not just because of its strong stand, but because it ends on a positive note:
NOW, THEREFORE, BE IT RESOLVED BY THE LARIMER COUNTY DEMOCRATIC PARTY that it supports the efforts of Senator Ken Salazar to encourage a bipartisan solution to the estate tax that is fiscally responsible and sustains Colorado's vital family farms, ranches, and small businesses.
So a big sign of support for Ken and a slap on the wrist to John, courtesy of the Larimer County Democrats.
Labels: John Salazar, Ken Salazar, Larimer County Democrats, Marilyn Musgrave, tax policy
4 Comments:
Release, cut and pasted:
Larimer County Democrats Support Fiscally Responsible Estate Tax Reform, Condemn Distortions by Marilyn Musgrave
On Thursday, February 22, 2007, the Executive Committee of the Larimer County Democrats unanimously passed a resolution supporting fiscally responsible estate tax reform to further protect Colorado’s family farms, ranches, and small business, while condemning falsehoods in a recently published op-ed.
The op-ed, jointly penned by Marilyn Musgrave and John Salazar, incorporated factual errors and myths about family farms to call for a complete repeal of the estate tax.
"Musgrave is irresponsibly advancing myths that have long since been exploded," said Larimer County Democratic Party Chair Adam Bowen. “The deceptive and fuzzy math in this column severely questions Musgrave’s basic familiarity with the subject. She shouldn’t be foisting this ignorance on her constituents."
For instance, Musgrave and Salazar create a hypothetical farm, and falsely claim that “the taxable rate on a $3 million estate would be up to 55 percent,” ignoring the initial $2 million estate value exemption.
They also inconsistently and incorrectly cite the estate exemption level—claiming the exemption to be only $1 million—instead of the correct $2 million level. Another fact overlooked in the op-ed piece is that the exemption level will automatically increase to $3.5 million in 2009.
Further, the maximum estate tax in 2007 is 45 percent on the non-exempt amount. Musgrave and Salazar falsely cite 55 percent, a level that hasn’t been in effect since 2001. Consequently, if correctly using Musgrave’s own case example, the maximum tax burden on the hypothetical estate is 15 percent—and even much of that amount can be effectively shielded by existing loopholes.
“These myths and falsehoods are irresponsible, and stand in the way of fiscally responsible reform of the estate tax.” counters Bowen. “Musgrave is using myths about our family farms to push a policy that would add trillions to our already bloated budget deficits. This fiscal irresponsibility must stop.”
The Larimer County Democrats resolve to support Senator Ken Salazar’s efforts to encourage a bipartisan solution to the estate tax that is fiscally responsible and sustains Colorado’s vital family farms, ranches, and small businesses.
“Our independent producers are critical to America’s food security,” said Bowen. “It’s time to stop using them as a political football in order to give Paris Hilton a handout.”
I'll tell you what's weird and not talked about much -- there is a whole crew of Democrats who are really opposed to the estate tax as one of their major issues. I met one a few years back -- really liberal on just about everything else but with this major bee in his bonnet about the estate tax. (Yes, I think it potentially affected his family.) And, I was in a line to meet Senator Salazar at a Ritter event last year and the person in front of me, obviously well known to the Senator, started the conversation by criticizing Salazar's vote against estate tax repeal from earlier that week. Ken Salazar said "I have to be fiscally responsible."
Anyway, it stuck in my mind. I'm sure John Salazar, with Aspen and Telluride in his district, hears a lot from the anti-estate tax liberals.
Complete repeal of the estate tax is insane economically and morally. No matter what John Salazar's position is, it is irresponsible of him to be following GOP talking points so closely.
And what's up with giving Musgrave political cover? She's the most vulnerable incumbent in America, a terrible representative, she's a hypocrite and a liar, and John Salazar is giving her a big sloppy wet kiss like this?
Sure, keep your farms, get a break on the tax. But it's not a god-damn DUTCHY. You're NOT royalty. Pay your damn share like the rest of us. Sure, land IS power, but it does NOT make you royalty OR god.
John, come ON, what the F--K are you thinkin?? HUH? Why not just come and whack us one by one? Treat the taxpayers like hapless rodents in Nucla?
FEH
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