Thread: Yes, we can.
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Old 10-27-2008, 09:41 PM   #4
Morrigoon
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Quote:
Originally Posted by Alex View Post
Here's a decent comparison of McCain and Obama's Estate Tax proposals.

If you're opposed philosophically to an estate tax at all then you won't be happy with either because they both support continuing them.

Obama at the current 45% rate with a $7 million exemption (currently it is $3.5 million).

McCain at 15% with a $10 million exemption.

Those sounds hugely different to me but per the articles figures I didn't see a big difference in impact on small businesses. Small businesses are the bugaboo of estate taxes since heirs potentially have to sell or close the business to afford or avoid the taxes, creating economic collateral damage.
Isn't this what living trusts are for?
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