Estate of Confusion.

Pathetic…these guys really have no shame. In yet another desperate and disgusting bid to pamper the rich by stealing from the poor, Catkiller Frist and the Senate GOP try to game the Senate Dems into backing a repeal of the estate tax by coupling it with a long-overdue minimum wage hike. To put this ploy in perspective, a recent reportconcluded that the estate tax reduction would cut government income by $753 billion in the first 10 years, forcing lower spending for Medicaid, food stamps and unemployment insurance, which help low-wage workers.Update: Thankfully, the bill failed on a 56-42 cloture vote, three shorts shy of the necessary 60 (Catkiller switched his vote to enable reconsideration later.)

And, in quite related news, new Treasury Secretary Henry Paulson admits the Dubya economy has been leaving people behind: “‘Many aren’t seeing significant increases in their take-home pay. Their increases in wages are being eaten up by high energy prices and rising health care costs, among others.’

The Sheltering Sky.

“‘The universe of offshore tax cheating has become so large that no one, not even the United States government, could go after all of it.” A new Senate report delves into offshore tax shelter schemes by extremely wealthy individuals, ones which cost the American public billions in federal tax revenues (and which often utilized fronts based in the Isle of Man, once the long-time home of my now-deceased English grandparents.) “‘We need to significantly strengthen the aiding and abetting statutes to get at the lawyers and accountants and other advisers who enable this cheating,’ Senator Levin said, adding that ‘we need major changes in law to stop the use of tax havens’ by tax cheats.

Dream a little Dream.

“‘The Republicans say the economy is great for everyone,’ Clinton said. ‘They’ve done nothing about these costs that are eating away at the paychecks of hard-working Americans. Democrats will work to get health-care costs down, to get college tuitions under control, to address the rising costs of gas prices, to cut middle-class taxes and reward companies that create jobs here at home.‘” With November in the not-too-distant future (and 2008 only a step beyond), Senator Hillary Rodham Clinton announces the American Dream Initiative, a.k.a. the DLC centrists’ stab at a Contract with America-type campaign agenda: “The centerpiece proposal would provide additional support for college costs, with the goal of increasing the number of college graduates by 1 million a year by 2015…Other ideas include requirements for employers to establish retirement accounts for all workers and a refundable tax credit for savers; ‘baby bonds’ that would create a government-funded savings account of $500 for every child born in the United States; a refundable tax credit to help provide the down payment on housing; universal health care for children; and benefits for small businesses to lower the cost of providing health insurance to workers.” This all sounds good, if a bit classically Clintonesque. OK, the name is goofy (as was Hillary’s “It’s the American Dream, stupid.“), and IMHO there needs to be more here regarding both campaign finance and lobbying reform. But, still, there’s very little of the usual protective camouflage-y cruft that usually accompanies anything put out by the DLC, so that’s a good start. Let’s see where it goes.

Minimum humanity…

Forced to capitulate somewhat on the estate tax in the House, the Republicans nevertheless illustrated anew their grotesque economic priorities in the Senate by voting down a raise in the minimum wage (Still at $5.15, it hasn’t been raised in nine years.) “Just last week, the House rejected an effort to block a $3,300 annual increase in the base salary for a member of Congress. If the raise goes through, rank-and-file members will earn $168,500 — a $31,600 increase since the last minimum-wage increase was enacted in 1997.

The Softer Name of Revenue.

“‘If you want to look at why the Republican Party is down in the dumps and why the president’s numbers are down in the dumps,’ Sen. Charles Schumer (D-N.Y.) said this afternoon, ‘it’s that the American people are beginning to understand that when they talk about tax cuts, they’re not talking about helping middle-class people. They’re talking about helping the wealthiest corporations and individuals among us.’” True, that. And, since Dubya signed the dividend tax giveaway extension into law this afternoon, the Dems now have another potent issue in their arsenal through November. “‘Today’s really a good day to be a millionaire, but it’s a bad day if you want to be a millionaire,’ Senate Democratic Leader Harry Reid (Nev.) said at a news conference minutes after Bush signed the bill.”

Taxing Days for the GOP.

“‘The point is the preponderance of these revenues will go to upper-income people, people who make a million dollars or more,’ Sen. Olympia J. Snowe (R-Maine) said yesterday. ‘It’s a question of priorities.‘” Nevertheless, as expected, House and Senate GOP leaders strike a deal to extend Dubya’s tax breaks for the wealthy to 2010, with the House passing their end 244-185 today. Well, this tax gambit may help the GOP with their base among the “haves and have-mores,” I guess, but I really don’t see how this will stop the GOP’s 14-point freefall across the rest of the country. Update: The Senate follows suit, 54-44.

A Relapse Binge for the GOP.

“‘You talk about completely detached from reality, that’s this place,’ said Sen. Kent Conrad (N.D.), the ranking Democrat on the Senate Budget Committee.” Throwing caution to the wind despite their imploding poll numbers and the ballooning deficit, the White House and congressional Republicans craft a deal to extend Dubya’s dividend and capital gains tax breaks for the wealthy. Still, the “compromise measure falls well short of making Bush’s first-term tax cuts permanent. Instead, all of the major tax cuts passed in 2001 and 2003 would expire at the end of 2010.

Update: The WP dissects the GOP’s tax gamesmanship: “If the deal wins congressional approval, every major tax cut passed in Bush’s first term will be set to expire on the same day five years from now. [Jan. 1, 2011.] At that moment, politicians would face a choice: Either allow taxes to rise suddenly and sharply on everyone who pays income taxes, is married, has children, holds stocks and bonds, or expects a large inheritance, or impose mounting budget deficits on the government far into the future, according to projections by the nonpartisan Congressional Budget Office.

Five for Fighting.

TIME Magazine unveils Josh Bolten’s new five-point plan for righting the Dubya presidency: 1) Act tough on immigration with “guns and badges”; 2) Humor Wall Street with extensions on capital gains and dividend tax cuts; 3) “brag more”; 4) Talk tough at Iran; and 5) play nice with the press. So, wait, we’re going to war with Iran just so Bolten can squeeze six more months out of lame duck Dubya? Brilliant.

Offset Pt. II.

With the first round of Operation Offset on its way to becoming law, Dubya submits a $2.8 trillion budget that further reflects the egregiously screwed-up priorities of this administration. The proposed budget “would cut billions of dollars from domestic programs ranging from Medicare and food stamps to local law enforcement and disease control while extending most of his tax cuts beyond their 2010 expiration date… [these] tax cuts, tax incentives and tax-cut extensions would cost the Treasury $1.7 trillion over the next decade, dwarfing the $172 billion in entitlement savings and proposed user fees in the budget.” Why didn’t anyone think of this before? Conducting war is so much easier when only the poorest Americans have to sacrifice. And as for the exploding deficits? Hoo boy. For an administration that purportedly cares about the unborn, this White House seems to have no qualms about foisting debt on the next generation.

ANWR’s Nine Lives.

“The legislation would allow states to impose new fees on Medicaid recipients, cut federal child support enforcement funds, impose new work requirements on state welfare programs and squeeze student lenders.” Although a tie-breaking vote by Cheney got the deficit bill passed — meaning people on Medicaid, welfare recipients, and students with loans will soon be paying for Dubya’s millionaire tax breaks — the Dems do succeed in beating back ANWR drilling, much to the chagrin of Ted Stevens, who gambled that the Senate wouldn’t vote down a defense bill.