As this author writes this the President and the leaders of Congress are meeting. They will certainly talk about taxes. However, none of the players has mentioned the estate tax in their pre-meeting posturing. Hence, I continue to believe we will have no estate tax fix before January 1st. In fact, on the income tax the outlook is very uncertain. I understand they are only meeting for an hour. Hence, unlikely they will get anything really done. Anyone who has negotiated something serious knows it takes hours and hours of discussions back and forth to resolve anything. Therefore, I continue to believe they will persist in their muddling along, only to pass a two year extension of the tax cuts as they leave Washington for Christmas, and the estate tax will be lost in the shuffle.
Again, this is all so strange. I believe if you held a straight up or down vote on a $3,500,000 exemption and a 45 percent estate tax, it would get over 60 votes in the Senate and would pass. The Republicans are delusional if they think they can get a better deal from this President in the next Congress.
By Kevin Staker