Correction: Small Talk story

AP News
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Posted: Feb 17, 2012 11:43 AM
Correction: Small Talk story

In a Feb. 16 story about reaction to President Barack Obama's budget proposal, The Associated Press erroneously reported that Obama was proposing a $1 million exemption for the federal estate tax and a tax rate of 55 percent for amounts above that threshold. Obama actually proposed a $3.5 million exemption and a tax rate of 45 percent.