Calvin Trillin considers the dillemma posed by the Estate Tax for a certain class of person dead set against paying taxes.
“Well, it’s this year or never. Look, under the provisions of the original law, the exemption has been raised and the rates lowered every year for the past nine years. It would have been shortsighted to die in order to take advantage of any of those tax reductions, because this year the tax is gone altogether. But the law still has its sunset provision: It fades away on December 31, 2010, unless it’s renewed. So, given the Democratic majorities in both houses and the current deficit, it’s likely that starting January 1, 2011, the estate tax will be the same as it was before the rates started coming down. From a tax liability standpoint, there is no alternative to taking advantage of this window of opportunity.”
