Blogs Derek's Tax Blog Those are fighting words!
Now that the House and Senate have completed the stimulus bill, we may start to see some progress on other matters. The one thing I found so surprising was the early death of “bi-partisanship”. Considering that Newt Gingrich is created with the Republicans success in the midterm elections the last time the Democrats controlled the House, the Senate, and the White House, what he says this time around may be an indication of the issues and strategies that the Republicans will be using this time. For that reason I could not pass up his recent quote made in front of Virginia Republicans on the estate tax, ”It is wrong to be required to go to the IRS and the funeral home in the same week. It’s wrong to work all your life and be ripped off by the government.”
Update: On the other end of the political spectrum comes this entry from the Daily Kos. It is a poll on the what the estate tax exemption should be. When I looked at the site there were 90 votes. With 62% preferring an estate tax exemption of $2.0 million or less. If you are unfamiliar with the Daily Kos, I suggest you read some of the 51 comments that were left of this entry. I don’t know how much political power it has, but I believe it is widely read in Washington, D.C.