07-26-2006, 09:42 AM
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Banned
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Join Date: May 2004
Location: Varies
Posts: 4,741
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http://abcnews.go.com/Politics/story?id=2049451&page=1&CMP=OTC-RSSFeeds0312
Quote:
According to a report by Public Citizen and United for a Fair Economy, 18 families, including the Mars candy family, the Gallo wine family, the Dorrance Campbell soup family and the super-rich Waltons who own Wal-Mart have spent more than $200 million to hire associations, business and trade groups, and lobbyists to get Congress to kill what they call the death tax.
"This report exposes one of the biggest con jobs in recent history," said Joan Claybrook, president of Public Citizen, in a statement. "This long-running, secretive campaign funded by some of the country's wealthiest families has relied on deception to bamboozle the public not only about who must pay the estate tax but about how repealing it will affect the country."
Public Citizen claims that just more than one-fourth of 1 percent of all estates will owe any estate taxes in 2006.
According to Public Citizen, these cash-rich families with a total worth of $185.5 billion could have gotten a $71.6 billion windfall if the repeal had passed the Senate and had been sent to President Bush for his signature.
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