I imagine some of you saw this article from the New York Times yesterday. It's about how our Congress allowed 2010 to start without any inheritance tax in place. Simply stated, anyone who dies this year gets a free ride, including the multil-billionaire pictured below, whose children and grandchildren won't pay a cent in estate taxes. If he had died just a few months earlier, his estate would have paid billions to the Feds.
Whatever your view on the estate tax is, at least know this: the amount of money every reader of this blog will pay in their entire lifetimes, cumulatively, will not approach what this one man's estate would have paid to the same government if Congress had their act together. I imagine they'll try to make a show of it and get a tax to apply retroactively, but as the article states, that'll probably fail too. Nice goin', fellas.
