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Liberal Billionaires to Call for More Death Taxes

oldervoter68 Wrote: Dec 10, 2012 11:42 PM
The Federal Government just can't get by without the income from the Estate (Death) Tax , which brought in about $7.5 Billion to the Treasury in 2011 (almost enough to fund the government operations for one day). How high would the rates have to go to have a significant impact on revenues to the FED?

Tomorrow in New York City, prominent liberal billionaires Bill Gates, former Treasury Secretary and co-chairman of Goldman Sachs Robert Rubin, Abigail Disney, Richard Rockerfeller and Vanguard Founder John Bogle will call for a hike in the federal death tax in order to "avert the fiscal cliff austerity bomb." In 2009, President Obama brought back the death tax after President Bush attempted to abolish it.

President Obama's budget keeps the estate tax at its 2009 level, which means the government gets 45 percent of a dead person's estate valued over $3.5 million dollars or $7 million for a...