After a week of arm twisting, negotiating, endorsement peddling -- and even an impromptu press conference held by former President Bill Clinton, President Obama looks like he has successfully contained a revolt from within his own party and will get his way on taxes.I guess seeing Bill Clinton at the White House podium again took the fire out of the Democrat's protests.
Lead House tax negotiator Rep. Chris Van Hollen, D-Md., said on “Fox News Sunday” that the House "will have an opportunity to work its will, and that “we're not going to hold this thing up at the end of the day.”
“The main sticking point,” according to Van Hollen, is the estate tax. Although the estate tax is currently zeroed out, the compromise tax plan would lower what had been a 55 percent tax on estates to 35 percent, a reduction that has been a major source of Democratic complaints.
The Senate is expected to hold its first votes on the tax measure today.
And what were they really protesting? They were mad because they could only take 35% of a dead person's accumulated wealth away from their heirs rather than 55%. Nice people.
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