Not so fast Kimosabe, our esteemed (in some quarters) President has already set plans in motion to 'fix' this problem in the budget. I don't think that this has actually come to a final and binding vote yet, but since January, Obama has been working to kill the '0%' 2010 Estate Tax. The
last reference to it that quotes specific figures is from April this year and has a 45% rate on everything above $3.5 million ($7 million MFJ).
Gee Wiz, just makes it hard to figure out when to die, right? No wonder Obama wants to 'help' us. After all we now have another 2 trillion dollar DEFICIT (not debt which is far bigger) to pay over the next 10 years!
16 posted on
08/22/2009 5:43:19 AM PDT by
SES1066
(Cycling to conserve, Conservative to save, Saving to Retire, will Retire to Cycle.)
When the passed the estate tax cut I thought that (starting at 55%) it would be reduced every year until it hit zero in 2010? and
then expire - unless extended and return to 55%.
Yet I too saw that 45% figure recently ... maybe the taxable estate "minimum" was being raised and will go back down to 1M?