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Author: synchronicity Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1961580  
Subject: Re: Who is for X'ing the Paris Hilton tax? Date: 6/8/2006 1:02 PM
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and a family that has to sell their business because of taxes that are incurred because their parent's die?

FWIW, proposals that exclude some or all of a "family business" from estate taxation have been repeatedly shot down by the GOP. Many members of that party want to kill the tax, period.

FWIW, there will be votes on the tax later this year (the proposal to repeal it just got shot down, FYI), and some compromise will likely be reached. The questions now revolve around the increase in the size of the lifetime exemption, and the rate of the tax.

There might also be proposals to seal up some "loopholes", such as the use of FLP's and such, but I'm guessing that aspect is too technical for most people here to care about.

-synchronicity
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