3 - Newsweek Article

3 - Newsweek Article - Y i Billionaire Backlash Guess Who...

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Unformatted text preview: Y i Billionaire Backlash Guess Who opposes Bushs plan to cut estate taxes? they certainly arent indifferent. Banking heiress and art patron Agnes Gund irritated some of her wealthy friends last week by going public with her opposition to President W. Bushs plan to repeal the estate tax. Many well-heeled Amecans are eagerto do awaywith the taxthat allows the govemment to claim more than half of their wealth when they die. But Gund is part of a group of nearly 100 millionaires and billionaires who believe abolishing the tax would have a devastating on America by ing the tax burden from the nations richest 2 percent onto the poor and the middle class. Ive had a storm of people come at me saying, How could you be for this? says Gund. They say, so weird? Gund and her allies, including investor George Soros and actor Paul Newman, are part of a gold-plated petition drive by rich Americans who advocate that the govemment continue taxing their estates by up to 55 percent. The campaign is being organizedAmericans who advocate that the govemment continue taxing their estates by up to 55 percent....
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3 - Newsweek Article - Y i Billionaire Backlash Guess Who...

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