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Weathervane Kaine Sells Out On The Estate Tax

- October 18, 2016

ANOTHER DAY, ANOTHER TIM KAINE FLIP-FLOP

Today Tim Kaine Asserted That He Favors An Increase In The Estate Tax

Today, In An Interview With CNBC Tim Kaine Asserted That He Was In Favor Of A 65% Estate Tax. EVANS: "For big banks to small business which is something you brought up in your remarks again saying both of you come from small business families. one concern from small business has actually been estate tax proposals. speaking from that experience it's possible that you could end up getting small businesses or larger farms swept in that. this is a country that is supposed to reward people for setting up enterprises and take the risk. is it fair to take 65%?" SEN. KAINE: "Well, look, this is a really important question. we see a growing concentration of wealth in this country that is not just unfair but hurting the economy. most would acknowledge if the distribution of income was more even gdp would be higher. put them on the table and say what do you think about this. for the overwhelming majority of the estates that would be subject to this tax we think it equitable and fair and then the reinvestment of those dollars back into strategies to grow the economy don't just help a few people but help everybody even those who are paying at the top end in the tax proposals that we have on the table." (Tim Kaine And Kelly Evans, "Sen. Tim Kaine Interview," CNBC, 10/18/16)

As Governor, However, Tim Kaine Repealed The Virginia Estate Tax

In 2007, Kaine Signed An Estate Tax Repeal. "Rich and poor alike will benefit from changes in Virginia's tax laws. Gov. Timothy M. Kaine symbolically signed into law yesterday a measure that will remove about 140,000 low-income people from the tax rolls by raising the filing threshold, beginning in the 2008 tax year. And, as of Sunday, the tax on larger estates in Virginia was repealed. The repeal legislation was passed by the General Assembly last year but did not take effect until July 1 this year." (Tyler Whitley, "Kaine Signs Measure For Low-Income Tax Break," Richmond Times Dispatch, 7/4/07)

Months Ago, Kaine Touted The Fact That He Repealed The Estate Tax In Virginia

Kaine Touted Eliminating Virginia's Estate Tax On His Campaign Website. "Tim also brokered the deal to eliminate Virginia's estate tax and cut income taxes for tens of thousands of low-income residents." ("About Tim," Kaine For Virginia, Accessed 6/28/16)

("About Tim," Kaine For Virginia, Accessed 6/28/16)

VIDEO: In 2012, The Democratic Super PAC Senate Majority PAC Ran An Ad That Touted That Kaine "… Eliminated The Estate Tax." NARRATOR: "We still remember…As Governor George Allen increased state spending by forty percent - a record level. And Senator George Allen supported over $120 billion in earmarks and $3.2 trillion in new debt. Allen on his own spending: 'yeah, it was a problem.' Tim Kaine was a Governor who cut his own salary. Cut five billion dollars in state spending. And eliminated the estate tax. It's why Virginia under Tim Kaine was named 'the best state for business' - four years in a row." ("Remember," Senate Majority PAC, 5/4/12)


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