Jay Heflin at the Hill has an article in which he assays the mood in Washington about the estate tax. He interviews several folk from several interest groups. Interesting how some still have the delusional thought that the estate tax will be repealed (that vote was lost this Summer). The prevailing thought seems to be that there will be so much chaos in the lame duck session that the estate tax will not be addressed (just as it was not addressed in late 2009 to avoid the present incentive for rich folk to do themselves in before the end of 2010). Again, I now believe Congress will only be able to handle extending just the middle class tax cuts in a slimmed down, one issue tax bill, and will not address the 2011 changes to the estate tax, dividends, and capital gains. I hope I am wrong.
By Kevin Staker