estate tax

Dead Money Talks, Sick Children Walk

As you probably already know, 2010 is the year to die is you are really wealthy. The Estate Tax disappears for one year only. Under the Bush plan, it would have reverted to its pre-2001 rates of 55% of estates over a $2 million exemption. President Obama proposed a 45% percent rate over a $7 million exemption.

Even this was too much for every single Republican and 9 Democrats in the Senate, who voted by 51-48 to enact a 35% rate over a $10 million exemptioin.

Here are the nine Democrats who voted against Obama's proposal