It appears there was no deal on the Estate Tax, according to a report by "the Hill." In all likelihood, there never was anything resembling a deal. The United States Senate has been in a state of paralysis for some time. As they did not bother to fix the estate tax last year, or do it [...]
An article from Forbes cites the following statistic from a recent study:
“In 2009, when the exemption was $3.5 million, only 5,500 estates paid tax–a total of $14 billion. In 2011, if the exemption reverts to $1 million, more than 44,000 estates will owe a total of $34 billion.”
I am surprised the post post 2011 numbers are [...]