Playing Political Chicken with the Estate Tax
Tax wonks with a macabre sense of humor are having a field day with the game of chicken now being played out on Capitol Hill over the estate tax. At either end of the political spectrum, the absolutist position in this fight is to allow current law to stay in place in all its quirky glory — and then see where the chips fall.
The problem is, the estate tax will switch from on to off to on again between now and 2011. The current law is, in a word, ...
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