What the Future Holds for Death and Taxes
 July 14, 2010 –
“It has come to this:
Congress, quite by accident, is incentivizing death,”
report Laura Saunders
and Mary Pilon in
The Wall Street Journal.
“When the Senate allowed
the estate tax to lapse at
the end of last year, it encouraged wealthy people near death’s door to stay alive until Jan. 1 so they could spare their heirs a 45% tax hit. Now the situation has reversed: If Congress doesn’t change the law soon—and many experts think it won’t—the estate tax will come roaring back in 2011.”
“Not only will the top rate jump to 55%, but the exemption will shrink from $3.5 million per individual in 2009 to just $1 million in 2011, potentially affecting eight times as many taxpayers.” Continue reading…
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