Sunday, December 13, 2009

Estate Planning - In the Future!

What will Congress do? Will they extend the current limits on estate tax exemption [$3.5 million per person], or allow it to go away for 2011?

Will they add portability [whatever that ends up meaning, presumably short of me becoming a paid matchmaker to put wealthy clients together with those of the opposite sex who have "intact exemption amounts"]?

It seems they may extend the current limit, but we do not know for how long. Regardless, they make it clear, much as the small towns who write an incomprehensibly large number of traffic tickets for their population size, but won't "turn them in" if you appear in court and pay some exorbitant [relatively speaking] court fee - that this is all about money, and not some idea of fairness or promoting the general welfare [I am scared to see what they decide that phrase means in the future - THINK HEALTHCARE].

They seem to care nothing for consistent, reasonable, even-handed regulation and fiscal activity, rather favoring games that push expense out into the future, and accelerate revenue collection [at least as forecast] so they can remain either revenue neutral or revenue positive.

It is a sorry state of affairs when "our elected" govern through the rearview mirror and by pushing issues into some future election cycle, while ignoring the will of the people [at least anecdotally they are doing this, by pushing healthcare reform that the polls show a lack of support for - the same polls, I should add, that they gleefully follow when it suits their purpose.

I think the verdict is in, politicians are crass, selfish and primarily interested in the service of themselves and their vested interests. They do not serve the folks, they do not look out for us, unless we are a big donor, and whatever they end up doing on estate tax "reform" won't be primarily guided by what will help the individuals or small businesses, unless they happen to be represented by some union/big business lobbyist!

I am reminded of the words of the immortal Homer Stokes [paraphrased] - "We need to pick up the broom of reform, and sweep this place clean"! We do not have a friend of the little man within 100 miles of Washington DC, as far as I can tell!

God Bless.