Warren Buffett's testimony in favor of retaining the estate tax deserved more coverage than it received in the local daily this morning. Here's more. He said repeal would hugely benefit a handful of the super rich and widen income disparity in the U.S.
I can't tell you how many times I've had some churchmouse-poor Arkansan fret about the government taking money from his family when he dies. These are the facts presented yesterday: 2.5 million Americans died in 2004. Estate tax returns (not necessarily a big assessment in every case) were filed for only 19,300 of them, probably less than 400 in Arkansas. They could afford it.