Clinton, Buffett Denounce Income Gap

[Karmadillo]

http://ap.google.com/article/ALeqM5gGT-eaixWoP3AEKwkzIUk_9O11AQD8TFKGQG0

Clinton, Buffett Denounce Income Gap
By SCOTT LINDLAW – 45 minutes ago

SAN FRANCISCO (AP) — Hillary Rodham Clinton made a strong case Tuesday for keeping the inheritance tax in place, saying it is a key to ensuring the United States remains a meritocracy.

At a joint appearance with billionaire investor Warren Buffet, Clinton said the inheritance tax, due to be temporarily repealed in 2010, was a symbol of "what kind of society we are."

"The estate tax has been historically part of our very fundamental belief that we should have a meritocracy, that we do not want a system — where we expect people to make it on their own — to be, over time, dominated by inherited wealth," she said. "That we do believe that people should have to get out there and make their way, to a great extent."

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Said Clinton: "There's a growing sense that it's not working for the average American. If people feel that for whatever reason the deck is stacked against them, then that does feed the instability."