Friday, October 08, 2010

Billionaires support wealth taxes

Here's part of a tax fairness pledge campaign, that would seem like normal (if welcome) fare:

"We believe that permanent repeal of the estate tax would be bad for our democracy, our economy, and our society. Repealing the estate tax, a constructive part of our tax structure for 85 years, would leave an unfortunate legacy for America's future generations.

What is unusual is who is signing this: some of those on the receiving end. Warren Buffett, George Soros, Ted Turner, and all six of David Rockefeller's children. As one of the other signatories notes:

“It’s an amazing thing when people say, ‘You support the estate tax! Won’t that affect you?’ and the answer is ‘Yes and Yes.’ I don’t understand where people’s heads are. There’s a moral obligation of returning your wealth to society.”

To read the “call” (and sign it if you’re so inclined), click here.

2 Comments:

Blogger Hani Sarji, J.D. said...

Billionaires disagree over the federal estate tax. I concluded a recent blog post by writing, "Even though the fate of the federal estate tax is uncertain, one thing is certain: billionaires will always disagree about the federal estate tax." See http://blogs.forbes.com/hanisarji/2010/10/07/billionaires-disagree-the-federal-estate-tax/

1:39 am  
Anonymous TJN said...

Yes, we wouldn't disagree of course

4:48 am  

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