Sunday, December 16, 2012

Estate Tax Increase Would Add Billions In Revenue, Say Wealthy Progressives

Estate Tax Increase Would Add Billions In Revenue, Say Wealthy Progressives

WASHINGTON - A coalition of three dozen ultra-wealthy progressives, including billionaire Warren Buffett, former President Jimmy Carter, philanthropist George Soros and former Treasury Secretary Robert Rubin, launched a new effort Tuesday to press members of Congress and the White House to raise the estate tax in order to provide additional revenue for the federal budget.

"A substantial estate tax can provide revenues at a time when our federal government badly needs revenues … and the estate tax will do this without an adverse effect," Rubin said on a conference call organized by the progressive group, Responsible Wealth.

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