45% death tax starts in 2010.

[shmike]

Originally Posted by goof2

I would double check your source. The 45% estate tax carries over from 2009, along with the first $3.5 million being exempt from the tax.

Correct.

The "death tax" was supposed to be 0% in 2010 and reset to 55% in 2011.

Obama's budget calls for the 45% rate to stay in effect from 2009 through 2010, eliminating the 0% year.

The $3.5/$7 million exemption would remain in effect.

I am not a fan of most of the "changes" being made in Washington. Especially changes like this that are snuck-into the budget 127 pages deep to hopefully go unnoticed.

However, it is important to remain factual when pointing out the flaws of the chosen one.