July 24, 2010

It's Time to Fix the Estate Tax

Katrina vanden Heuvel, Washington Post

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It's been said that only death and taxes are certain. But the "death tax"� is anything but certain now. There's no estate tax this year -- costing the Treasury billions -- because Congress allowed it to expire.

With less than a fortnight before Congress's August recess, United for a Fair Economy held a press conference call with a wonderfully eclectic mix of participants --including former Treasury Secretary Robert Rubin, AFL-CIO president Richard Trumka, heiress and filmmaker Abigail Disney and hedge fund pioneer Julian Robertson -- all urging reinstatement of "the most progressive tax in the code and the only national tax on wealth."� They are facing some stiff opposition. Sen. Jim DeMint (R-S.C.) was on the Senate floor this week talking about heirs being forced to sell...

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