Wednesday, April 13, 2011

Obama Lays Out Plan to Reduce Deficit by $4 Trillion in 12 Years | Advisor One

In the deficit reduction plan announced by the President today, your estate tax exemption just vanished.

As you know, the estate tax exemption became $5 million on January 1st of 2011. However, that exemption is reduced to only $1 million on January 1, 2013.

The President's announced plan would make the $1 million exemption permanent. This is a drastic increase in federal estate taxes resulting from an absurdly low exemption of $1 million and a top estate tax rate of 55%.

What is your take on this announcement? I don't know if the President has the votes in Congress to get this through, but if passed, it is a disaster for your family.

Please read the article below:

Obama Lays Out Plan to Reduce Deficit by $4 Trillion in 12 Years | Advisor One

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