Billionaires’ Bluff

Billionaires’ Bluff

How America’s Richest Families Hide Behind Small Businesses and Family Farms in Effort to Repeal Estate Tax

June 25, 2015 – Through their own family businesses, trade associations, and interest groups, America’s wealthiest families and most well-known brands have driven the effort to repeal the estate tax, while perpetuating the idea that the tax hurts America’s family farms and small businesses. This report shows that nine families owning approximately $137 billion in assets have lobbied directly on the issue in recent years, despite claims by estate tax opponents that their efforts are driven chiefly by concerns over family farms and small businesses. If the law were repealed, these nine families would stand to save more than $25.7 billion in estate taxes, and perhaps as much as $54.8 billion.