A new report from two watchdog groups says 18 of this country’s wealthiest families have been behind a multi-million dollar lobbying campaign to repeal the federal estate tax. According to Public Citizen and United for a Fair Economy, the families have directely funded campaigns and set up shadow associations to spread misleading information on the benefits of repealing the tax. The groups say a repeal of the estate tax would save the families over $71 billion dollars. The families include those behind the companies Wal-Mart, Campbell’s soup, and Mars Incorporated. Joan Claybrook of Public Citizen called the campaign “one of the biggest con jobs in recent history.”
18 Wealthy US Families Bankroll Estate Tax Campaign
HeadlineApr 28, 2006