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Liberal Billionaires to Call for More Death Taxes

Vicki68 Wrote: Dec 11, 2012 11:13 AM
We are not wealthy, but as we approach retirement, spending a little money to set up trusts so our kids don't lose more than half of what we've spent our lives building is worth it. Any American can do 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...