Evaluating Estate Tax

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This estate tax is an absolute drop in the bucket and hardly worth discussing. It was only $16 billion which is lots to regular people but nothing in the eyes of Congress. What good is it going to do against $12.1 Trillion?
And they keep spending into $1.2 Trillion yearly deficits it just doesn't matter. Some social programs will have to be cut to ever start paying this down. Here's some more info on this estate tax stuff.
http://www.incometaxcoach-linda.com/demise-of-the-death-tax/
Also, it's time we focus on all the 'pet projects' of individual Congressmen that adds tons of pork to the bills that are actually needed. This is where the real money is and what will make the difference in getting this fiscal nightmare turned around.

Linda Sorenson of TX 2:47PM January 08, 2010

The politicians have given their super rich constituents (and themselves I might add since most senators are multi-millionaires) a huge tax break at the expense of all the rest of us including the middle class. By substituting a capital gains tax on the cost basis of investments, with no step up basis, many people will be forced to pay tax on grandpa's original investments when he passes compared to the former federal estate tax where each person received a 3.5 million exemption and only the super rich were required to pay tax, which came out to about 1% of the population. The very wealthy comes out far ahead this way while the rest of us pay tax that we previously didn't have to pay. Let's reinstitute the death tax, exclude farmers, and if we must tax - tax the super rich, who can most afford it. Not you and me.

Small Business Owner of IL 9:47AM January 07, 2010