The Ignorant Investor

Ignorance Can't Stand in the Way of My Opinion

Monday, June 05, 2006

 

Bad News? Estate Tax Out. The Good News....

Is that when the democrats eventually return to power they'll have a huge amount of room to raise taxes to cover the deficit without hurting the middle class. The cuts in the capital gains tax rate and the soon-to-be-permanent end to the estate tax, a tax which applies only to dead people who left more than $4 million in assets, have made the future rise in taxes to be, at least initially, a politically painless process for any Congressman who isn't beholden to the wealthiest of contributors.

Hmm. Maybe I've spoken too soon. How many politicians are there these days whose power doesn't somehow stem from regular and massive infusions of campaign cash from the wealthy?

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