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Home Blogs Derek's Tax Blog Estate Tax Fiscal Cliff - Day 49 and Counting - One Week Post Election, What Have We Learned
Written by Derek W. Jensen
Friday, 16 November 2012 15:57

The following was first posted on the "Surviving the Estate Tax Fiscal Cliff" on November 13th, 2012:

It is now a full week from Election Day and we are starting to get a sense of where the players are lining up. We have also have one less week to take action and are left with 49 calendar days and 28 working days until the New Year.

You may have noticed that we had a number of posts pop into the News category this past weekend. I tend to follow the news on my cell phone and I can easily post news articles from there. I don't post all of the articles I read, just the ones that seem the most relevant, current, and either well written or provide something new. Think of it as your own personal selective aggregation site. You can follow these posts by subscribing to this site, or you can follow this site on Facebook at http://www.facebook.com/EstateTaxFiscalCliff or for now on my law firm's Twitter site - @JensenLaw - http://twitter.com/JensenLaw.

The articles from the weekend show that the momentum is favoring falling off of the fiscal cliff. Let's recap:

I find this last argument compelling. When we faced a similar issue in 2010, I discussed on my tax blog that it could be politically beneficial for President Obama to let the Bush era tax cuts expire and then president his own tax cuts crafted to where he wanted them to be.

At this point I would say that the momentum is definitely moving away from a grand deal that will preserve our current estate and gift tax rates and exemptions.



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