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.


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

1:39 am  
Anonymous TJN said...

Yes, we wouldn't disagree of course

4:48 am  

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