Inheiritance taxes  

redmustang91 58M  
8976 posts
5/4/2006 5:09 am
Inheiritance taxes


The super wealthy are trying to pull a fast one to eliminate federal inheiritance taxes. Already only the really rich pay anything. I suggest no tax on the first $3 Million, with unlimited no taxes between spouses, and no taxes on charitable donations. But why let super rich pay nothing? A mere 15% would be fair...

Maybe the Heirs Aren't Apparent
By DAN MITCHELL
THE watchdog group Public Citizen (citizen.org) and the advocacy group United for a Fair Economy (faireconomy.org) issued a report this week saying that 18 superwealthy families are largely responsible for financing the lobbying campaign aimed at repealing the estate tax; the Senate is scheduled to take up repeal next month.

The families, worth $185.5 billion, have financed and coordinated the campaign and have, until now, managed to hide their participation behind the trade associations and business groups they have formed to represent their interests, Public Citizen reported. The families include those behind some of the nation's biggest and best-known companies, like Wal-Mart, E.& J. Gallo Winery, Nordstrom and Koch Industries.

In a news release presenting the 58-page report, available on its Web site, Public Citizen pulls no punches. "This report exposes one of the biggest con jobs in recent history," Joan Claybrook, president of Public Citizen, said in the release. "This long-running, secretive campaign funded by some of the country's wealthiest families has relied on deception to bamboozle the public not only about who must pay the estate tax, but about how repealing it will affect the country."

Several liberal blogs played the report like a snare drum. A Daily Kos blogger, Chris Kromm, thinks it is just the kind of issue that liberal politicians should use to appeal to Middle America. "This is a perfect issue for Southern progressives," he writes. "Half of the superrich families are based in or have close ties to the South."

Become a member to create a blog