anyone care to discuss ?
it is supposed to be eliminated for this year, and then back in 2011.
i have read that there is interest in congress to bring it back retroactively, for this year.
everything i have read in the past has been that if we get rid of estate tax, we will also get rid of stepped up basis with inherited assets.
i just think it is gonna be a huge disaster, hoping that beneficiaries are gonna be able to come up with the basis of assets of a decedent.
they talk about taxes only after a certain amount. but most wealthy have irrevocable trusts that will last for a long time, so no taxation at all, after the initial year of death.
for me, the real problem is that we have way, way too much govt. if we got govt to a level that our forefathers had intended, most taxation issues would be somewhat moot, since there would be such a minimal amount to support.
i think we should have great concern with the evergrowing elimination of capitalism in our country, in favor of govt controlling everything.
it is supposed to be eliminated for this year, and then back in 2011.
i have read that there is interest in congress to bring it back retroactively, for this year.
everything i have read in the past has been that if we get rid of estate tax, we will also get rid of stepped up basis with inherited assets.
i just think it is gonna be a huge disaster, hoping that beneficiaries are gonna be able to come up with the basis of assets of a decedent.
they talk about taxes only after a certain amount. but most wealthy have irrevocable trusts that will last for a long time, so no taxation at all, after the initial year of death.
for me, the real problem is that we have way, way too much govt. if we got govt to a level that our forefathers had intended, most taxation issues would be somewhat moot, since there would be such a minimal amount to support.
i think we should have great concern with the evergrowing elimination of capitalism in our country, in favor of govt controlling everything.
