Family-owned small businesses aren't prog enough for Crony Socialism's demands
Billionaire investors Warren Buffett and George Soros are calling on Congress to increase the estate tax as lawmakers near a decision on tax policies that expire Dec. 31.
In a joint statement today, Buffett, Soros and more than 20 other wealthy individuals asked Congress to lower the estate tax’s per-person exemption to $2 million from $5.12 million and raise the top rate to more than 45 percent from 35 percent.
An estate tax structured this way will “raise significant revenue to reduce the deficit and fund vital services, will only be paid by the top one percent of estates, will raise more from the wealthiest estates” and will simplify compliance, said the statement. It also was signed by John Bogle, founder of mutual fund company Vanguard Group Inc., and former President Jimmy Carter.
(full story at
sfgate.com)
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On this day: December 11
A workers' uprising occurs, establishing the Shuliavka Republic in Kiev (1905)
Germany and Italy declare war on the U.S.; the U.S., in turn, declares war on Germany and Italy (1941)
Che Guevara speaks at the United Nations General Assembly in New York City; an unknown terrorist fires a mortar shell at the building during the speech (1964)
Bernard Madoff is arrested and charged with securities fraud in a $50 billion Ponzi scheme (2008)
b: Bhagwan Shree Rajneesh (1931), John Kerry (1943)
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Family-owned small businesses aren't prog enough for Crony Socialism's demands
