It's Beginning to Look a Lot Like Christmas
Extension of Bush-era tax cuts (at least for a couple of years) looks like a reality...and if passed...the estate tax exemption in 2011 will be going up, and the estate tax rate will be going down...I guess this is the government's version of "It's beginning to look alot like Christmas."
President Obama was just interviewed on the subject, as reported by CNBC, where he "staunchly defended his decision to compromise with Republicans and temporarily extend tax cuts for all Americans despite growing Democratic opposition." In a CNBC article it gives a head's up as to the estate tax issue: "The deal calls for a 13-month extension of unemployment benefits, which could placate Democrats, but Obama also conceded to Republican demands on the estate tax, by proposing a 35 percent tax with a $5 million individual exemption level."
