Money Talks

Entrepreneur,  July, 2001  

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THE BILLIONAIRES WANT TO KEEP PAYING ESTATE TAXES. WHAT DO YOU WANT?

IN RECENT MONTHS, BILLIONAIRES LIKE WARREN BUFFETT AND BILL GATES HAVE PUBLICLY opposed repeal of estate taxes because they're more concerned about the negative effects it would have on charities than the positive effects it would have on their bank accounts. A charitable attitude to be sure--but these big names are wielding their power on a controversial issue that arguably has a more critical effect on small-business owners.

While the wealthiest of the wealthy are playing nice guy, average entrepreneurs face the possibility that estate tax burdens may sink their businesses. So are those of you who don't happen to be billionaires outraged that these big guys are getting all the feel-good publicity? Or do you agree with them? We poiled Entrepreneur.com users to see whether they agree with the billionaire lobby. At right are your two cents:

DO YOU SHARE the view of the billionaire lobby that we should
keep the estate tax?


YES The tax helps charities      27%
NO The tax hurts small-business  53%
 owners.
SORTA Let's decrease, but not    20%
 repeal, the tax

Note: Table made from pie chart

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COPYRIGHT 2008 Gale, Cengage Learning