Monday, December 06, 2010
Expect to hear more about this:For the next two years, estates up to $5,000,000 will be protected from the estate tax, and the tax rate for the few estates that are taxed will be 35 percent. That's worse than the 2009 estate tax ($3.5 million exemption, 45 percent rate)
[45 percent was the lowest rate after a series of reductions in the last 10 years, not counting this year's zero rate; the exemption grew during the same period to a maximum of $3.5 million] In this case Republicans got more than an extension of current rates and policies.
posted by Quiddity at 12/06/2010 10:53:00 PM
2 comments
actually the current rate is 0%.
Steinbrenner had exquisite timing.
Expect some unfortunate accidents to happen in the next few weeks, too.
We the People voted for this last month.
Well, ~21% of us at least, but that was enough,
OT: Quiddity: thought you'd like this comment [link might not get you to the full comment]:
Now, to be clear, I support higher levels of legal immigration but cracking down on employers for hiring illegal immigrants—and in any case I support humane treatment of everyone. But he [Krugman] really does support the libertarian fantasy of open borders, why? Because he is only looking at the narrow economic effects and not the societal or cultural effects, forgetting about the irrational and rational fears immigration elicits among the working and middle classes. In essence he supports a kind of cosmopolitan utilitarianism and has a real blind spot for the American middle class. I’m a social democrat so this really bothers me. We don’t have a world demos, so we can’t build a humane, somewhat equitable society at the world level. I therefore think an American progressive, while wanting to improve circumstances around the world, still needs to think about inequality and the standing of America’s working and middle class.
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