WASHINGTON -- The calls are starting to come in from shocked or angry
seniors. They have just learned that their Medicare drug plans are maxing
out on early coverage and that they must spend $2,850 from their own pockets
before coverage will resume.
John Q. Public can get a minimum wage increase, only if the the heirs of the Wynn's, Kerkorians, Lanni's, (Vegas) Fertitta's, (Houston) Fertitta's, et al. get a break on the Estate Tax... I hope who ever reads this that lives in NV - John "Hair-Do" Ensign will fall into this, too!!!
The House, at about 1:30 a.m. yesterday, voted 230 to 180 to raise the
minimum wage to $7.25 an hour, from the $5.15 rate on the books since 1997. The
bill also would exempt from taxation all estates worth as much as $5 million --
or $10 million for a married couple -- and apply a 15 percent tax rate to
inheritances above that threshold and as much as $25 million. For estates
exceeding $25 million in value, the tax rate would be 30 percent.
Most congressional Republicans support the estate-tax cuts and oppose the minimum wage increase. Most Democrats take the opposite positions. Democrats said they saw a two-edged strategy in the GOP decision to couple the issues.
Democrats' eagerness to raise the minimum wage might attract enough support in the Senate as well as the House to pass the estate-tax cut, a major GOP goal. But if Senate Democrats block the bill because of their aversion to the estate-tax cut -- as
their leaders have vowed to do -- House Republicans may at least be able to
blunt Democratic accusations that they made no effort to help the working