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Estate tax measure fails

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Wednesday, November 07, 2012

Oregon voters rejected Measure 84, which would abolish estate taxes. The state will continue to tax inherited estates worth more than $1 million.

Proponents of Measure 84 say the tax threatens small businesses and family farms, which might have assets above $1 million but not enough cash to cover the tax bill.

Opponents say the measure is a giveaway to the wealthy and would only benefit 2 percent of the richest taxpayers while the state struggles to fund schools and police.

Read more at Capital Press.

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