[Tax-chick]

Get it done, George. The estate tax is an absurdity.

[2banana]

Many, many farms have been sold to developers to pay the death tax even though the family desperately wants to keep it. I always wondered why environmentalists never got behind this...

[King Prout]

the estate tax does only one thing: keeps the upper-middle class from becoming truly wealthy. anyone/any family can get to the upper-middle generationally, but the death tax is an hellacious hurdle to jump.

KILL IT

[PatrickHenry]

How can anyone make sensible plans when the law now provides this result:

Federal Estate Tax Exemption Chart

 

Calendar Year		Federal Gift Tax Exemption		Federal Estate & GST Tax Exemption		Highest Federal Estate & GST Tax Rates
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011		$1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000		$1,000,000 * $1,000,000 * $1,500,000 $1,500,000 $2,000,000 $2,000,000 $2,000,000 $3,500,000 Unlimited $1,000,000 *		50% 49% 48% 47% 46% 45% 45% 45% N/A 55%

The estate tax vanishes in 2010, and then returns with increased vigor in 2111. How do you plan for that?

[OldFriend]

Yes, and yes on the dividend tax too. Both goners under Dubya.

[pollywog]

Let's hope so

[EEDUDE]

Where I live (Indiana) many small farms cease to exist when the owner dies, since many heirs cannot afford to pay the taxes on the place.

It's a sad state of affairs.