Wednesday, January 14, 2009

WSJ Not Happy with Obama's Estate Tax Solution

(I know this is of great interest to all readers.)

Here's the editorial board's view.

I mentioned this subject earlier this week. Obviously, the WSJ missed my comments. Strange.

More comments from Juan. Of special significance to our practice are the "portability" aspects of what this year's legislation may contain. This will be a great boon to married couples in the middle to upper middle classes and enable them to exempt the first $7 million of their estates from the estate tax at the second death (there is already no estate tax at the first death in a married couple). The idea that there is a "death tax" that threatens the hard-earned wealth of most Americans was propaganda from the white-shoe wing of the Republican Party. (And may those shoes - in both parties - be increasingly replaced by work shoes of all kinds.)

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