by Max Brantley
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.