Thompson & McCarty, P.C. CPA

It appears that a compromise is in the works on the inheritance tax issue. The current estate tax exemption is $1.5 million but will rise to $2 million in 2006 and will be $3.5 million in 2009 with an unlimited exemption in 2010. It will revert to $1 million in 2011 if legislation is not hammered out and passed. President Bush had hoped to make the unlimited exemption permanent but he can not get the votes to get it done. It is rumored that at $5 million a deal could be brokered. I think it is a crime to tax assets that have already been taxed. What business is it of government what an individual does with his assets when he passes away? I don't care if the assets are $100 billion dollars or more. Unless the government proves that a crime has been committed to obtain the assets, it simply should not be the governments concern.