Tuesday, December 11, 2012
A group of three dozen wealthy progressives, including Warren Buffett, Jimmy Carter, Bill Gates Sr., and George Soros, today released a Responsible Estate Tax Proposal:
- We believe a more appropriate exemption is $4 million per couple, indexed to inflation.
- We believe there should be a graduated rate on the taxable estate over the exemption amount, beginning at 45% and rising on the largest fortunes.
- We believe that compliance should be simplified to allow for state tax credits, portability and the reunification of federal gift taxes.
Press and blogosphere coverage: