Wednesday, April 06, 2005

Walmart Goes After Estate Tax

In USA Today's Money Section, via Facing South:

[I]n a little-noticed move, the company's founding family has plunged into a fight to pass income tax changes and other legislation that could preserve its grip on the USA's biggest business and the family's $84 billion fortune.

Led by Sam Walton's only daughter, Alice, the family spent $3.2 million on lobbying, conservative causes and candidates for last year's federal elections. That's more than double what it spent in the previous two elections combined, public documents show.

Once the estate tax is eliminated, the fortunes of billionaires should last for eternity, or until the US goes bankrupt, whichever comes first.


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