Gustavo Ballvé on September 1st, 2010
Corporate Governance, Food for thought, Home, Signal or Noise

Buffett, Soros, Bill Gates (and his father) have also written and talked about it – some of them since the original 2001 repeal proposal. Now Bob Rubin and Julian Robertson co-author an op-ed in the Wall Street Journal calling for the return of the Estate Tax, at least in the 2009 model. What’s more, they want it to be effective since January 1st, 2010. Their paragraph on the “powerful philosophical underpinnings” of the Estate Tax seems to be there just to please the WSJ’s target readership, but the real motivation – and we can’t help but agree that it is strong enough to demand attention by the US Congress – is that “[The USA] is losing revenue that, with its stressed fiscal conditions, it can ill afford to forego”. For a quick, “real-life” examples of the proposed Estate tax reinstatements for 2011 check out this June 12th NY Times article. The mention to 2010 as “the year to ‘Throw Momma From the Train'” alone is worth the read. The movie that inspired this analogy is definitely worth watching!

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