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Louisiana teachers' union concerned about educators' future; Supreme Court hears arguments in Trump immunity case; court issues restraining order against fracking waste-storage facility; landmark NE agreement takes a proactive approach to CO2 pipeline risks.

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Speaker Johnson accuses demonstrating students of getting support from Hamas. TikTok says it'll challenge the ban. And the Supreme Court dives into the gray area between abortion and pregnancy healthcare, and into former President Trump's broad immunity claims.

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The urban-rural death divide is widening for working-age Americans, many home internet connections established for rural students during COVID have been broken, and a new federal rule aims to put the "public" back in public lands.

A View from the Top: Gates Sr. Sounds Off about Estate Tax

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Tuesday, December 22, 2009   

FAIRFAX, Va. - Even some of the richest people in America say they don't mind the idea of paying an estate tax on a portion of their wealth when they die. But those views went unheeded in Congress, as the U.S. Senate recently blocked a bill to extend the federal estate tax for one year. Now, the tax expires on January 1.

Half of all U.S. Internet traffic runs through servers in Northern Virgina, and a familiar name in technology, Bill Gates Senior, says the estate tax is only fair. The elder Gates, who is co-chair of the Bill and Melinda Gates Foundation, believes families like his have prospered, in part, because they have benefited from living in a nation where taxpayers fund more than 90 billion dollars a year worth of research.

"Clearly, the largest and most generous venture capitalist in the universe is Uncle Sam. And it's clear that the folks who have become wealthy because of significant social investments did not do it alone."

According to U.S. Census figures, Virginia's Loudoun and Fairfax counties have the highest median household income in the entire nation.

John Bogle is the founder of The Vanguard Group and one of the "richest of the rich" who is in favor of the estate tax, for next year and beyond. The way tax law works, he says, most of his wealth has not yet been taxed, and won't be until his death. He says only a few are fighting the tax.

"For us to think, who owe these taxes, that we don't want to pay our fair share of the cost of running this nation, when our young citizens are dying in wars out there trying to protect democracy, seems to me quite outrageous."

The group United for a Fair Economy says 18 families have spent millions of dollars in a coordinated campaign to eliminate the tax, and they've succeeded in winning five tax cuts since 2001. Critics of the estate tax say it hurts family-owned corporations and farms, and prompts family businesses to sell out to larger companies when their owners die.

Ending the estate tax is also expected to cost charities more than 20 billion dollars a year, according to Catholic Charities USA, because funding charitable foundations is part of a tax planning strategy for the wealthy that won't be necessary if there is no estate tax.



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