Estate Tax in a Lurch Thanks to Congress

The estate tax, the most unfair tax of them all, in in limbo thanks to Congress. What now? How do we plan for our real estate holdings?

estate taxThe estate tax, the most unfair tax of them all, is now in limbo because Congress did not take care of it before leaving for a very long Christmas vacation.

Yes, I’m angry.  I’m angry because I consider it a double tax.  It is taxing those of us who have real estate and other holdings.  Hence, it is dubbed the burial tax by my family.

But apparently there will be  no estate tax in 2010.  That’s the good news for people who die during this period, I guess.  The golden geese now have a timeline of sorts, if you want me to be blunt about it.

The bad news is it will kick back in  come 2011 and with the perfect storm furor only a messed up tax system like ours can muster.  Thanks, representatives.  You are representing us and our hardworking interests so well.

What do we do for now?  How do we plan?

That’s just it.  We can’t do anything or make financial plans until we find out what these very free spending Congressmen and women are going to do.   They’re too busy with health care to notice, I reckon.  Will the Chinese keep on sponsoring our debt forever?

Does anyone have any business sense at all in Washington?  Where’s the shame?

Here’s more info about the estate tax problem

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