I predicted back in August that Death and taxes will continue.
That topic, the impending (and improbable) repeal of the estate tax, was addressed this weekend in a Wall Street Journal article.
It offers some good info on the political battles being fought behind the scenes before this matter gets a full public debate.
The article also has some nifty (and pretty!) graphics, created using Tax Policy Center data. I've checked out the group's estate tax info myself and found the equally attractive and informative image you see there to your left.
As the pie chart indicates, and the TPC tells us in its estate and gift tax topic, "The estate tax is the most progressive federal tax. In 2009, more than 90 percent of estate tax revenue will come from the top 5 percent of the income distribution. Taxpayers in the bottom four quintiles face an average effective tax rate of less than 0.05 percent."
I'm working on a story right now on the future of the estate tax. When it's published on Bankrate.com next month, I'll share that link, and my additional insights, then.
