Estate Tax Statement from New York City Mayor Michael Bloomberg
December 17, 2009
“Congress should act immediately to extend the estate tax at its 2009 levels. If Congress doesn’t act – and act soon – the estate tax will disappear completely in 2010, costing the federal government critical revenue at a time it desperately needs it. Extending the 2009 levels for a year would also give Congress time to develop a fair, permanent solution next year.
I happen to support the estate tax. Not only do we need the revenue, I think Warren Buffett gets it right when he argues that a meaningful estate tax puts a check on dynastic wealth, promoting the value of meritocracy in the process.”