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The Financial Cliff
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<blockquote data-quote="Ms.PacMan" data-source="post: 1075218" data-attributes="member: 4656"><p>The estate tax would revert back to a Clinton Era tax for estates over 1 million. Dems want a 3 million exemption and Rep want a 5 million exemption. To clarify this means zero tax on the first 1, 3, or 5 million that the estate is worth. I haven't looked at what the tax rate would be for amounts over these exemptions because it's unlikely my estate will ever be worth 3 or 5 million. </p><p></p><p>The estate tax doesn't effect most people.</p></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 1075218, member: 4656"] The estate tax would revert back to a Clinton Era tax for estates over 1 million. Dems want a 3 million exemption and Rep want a 5 million exemption. To clarify this means zero tax on the first 1, 3, or 5 million that the estate is worth. I haven't looked at what the tax rate would be for amounts over these exemptions because it's unlikely my estate will ever be worth 3 or 5 million. The estate tax doesn't effect most people. [/QUOTE]
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