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Liberal Billionaires to Call for More Death Taxes

Rodney47 Wrote: Dec 10, 2012 5:37 PM
Jacka s s, the monies used for investment have already been taxed at the income tax rate when they were EARNED. Then they are taxed again (go figure) after they are invested and someone takes CAPITAL GAIN on it. What is so f-ing hard to understand about that.

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...