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.
Of course they want higher taxes on people who are too stupid to shelter their own money. I don't know why Buffett and his ilk don't just pay the tax they owe.
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