Presidential Candidates Positions on Estate Taxes

EstateSettlement.com

Polictical Positions on ESTATE TAXES

Currently estates worth up to $2 million are exempt from the estate tax. That exemption level will rise to $3.5 million by 2009. In 2010, the estate tax is scheduled to be repealed entirely for one year and then it will be reinstated in 2011 at a $1 million exemption level. The current top tax rate on estates is 45 percent. By 2011, it will increase to 55 percent.

Clinton: Would increase the estate tax exemption level to $3.5 million.

Edwards: Would raise the exemption level to $4 million.

Romney, Giuliani and Thompson: Would eliminate the estate tax.

McCain: Would increase the exemption level to $10 million and tax the portion of an estate above $10 million at a flat 15 percent. 

Source: Money Magazine