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Health-care could pass by Christmas Estate tax repeal bringing chaos


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Health-care could pass by Christmas Estate tax repeal b... - 12/19/2009 3:59:06 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		I'm not very excited with this bill and if somebody like Ben Nelson is okay with it; it invites scrutiny from me. The article has a lot of information and there are good things in the bill but it could've been much better. This is a starter home and not a mansion I guess.

With Nelson on board, health-care bill could pass by Christmas - washingtonpost.com
 
But the Congressional Budget Office found that the package could reduce budget deficits by as much as $1.3 trillion in the second decade, starting in 2019, a significant improvement in long-run savings compared with both the House bill and the measure Reid had previously crafted. In his blog, CBO director Douglas Elmendorf attributes the change to lower targets for Medicare spending after 2019.
  
http://www.washingtonpost.com/wp-dyn/content/article/2009/12/19/AR2009121900797.html?hpid=topnews

This is surprising news, I wonder how people are going to feel about this. Oh well, I guess I’m screwed, 55% rate huh, so much for my inheritance.

Estate tax repeal seen bringing chaos

WASHINGTON (Reuters) - The scheduled expiration of the tax on wealthy estates in the United States, unthinkable just days ago, has whipped the wealthy and their estate planners into a flurry of confusion

"I'm going to be fending calls from people saying, 'Should I keep mom plugged in?'" said Carol Harrington, head of the private client group at law firm McDermott Will & Emery. "This is a disaster even if you are in favor of repeal."

http://www.reuters.com/article/idUSTRE5BH4F120091218
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RE: Health-care could pass by Christmas Estate tax repe... - 12/19/2009 4:16:29 PM   
ThatDamnedPanda


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Joined: 1/26/2009
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quote:

ORIGINAL: Brain


"I'm going to be fending calls from people saying, 'Should I keep mom plugged in?'" said Carol Harrington, head of the private client group at law firm McDermott Will & Emery.



With the health care bill set to pass, that won't be an issue anymore.


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RE: Health-care could pass by Christmas Estate tax repe... - 12/19/2009 4:58:05 PM   
DarkSteven


Posts: 28072
Joined: 5/2/2008
Status: offline 		"But the Congressional Budget Office found that the package could reduce budget deficits by as much as $1.3 trillion in the second decade, starting in 2019, a significant improvement in long-run savings compared with both the House bill and the measure Reid had previously crafted."

Misleading as hell.  The savings are not over the current situation, but over two other versions of the bill.  And I really hate this sleight of hand under which our leaders pass a bill that increases costs with some provision that turns around and reduces those costs ten freaking years later.  There's an excellent chance that those cost savings will not be realized when future pols knuckle under rather than cut back the program.  That's the same kind of crap that Bush pulled with the sunsetting of his tax cuts.


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RE: Health-care could pass by Christmas Estate tax repe... - 12/19/2009 4:59:54 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
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quote:

ORIGINAL: DarkSteven

  That's the same kind of crap that Bush pulled with the sunsetting of his tax cuts.



Huh? Bush didnt want to sunset them. It was the only way to get them passed at all.

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RE: Health-care could pass by Christmas Estate tax repe... - 12/19/2009 7:40:25 PM   
DomImus


Posts: 2004
Joined: 3/17/2009
Status: offline 		I don't see a health care bill leaving Congress by Christmas. If and when the Senate can pass something... anything... then it has to go back to the House and there is already considerable grumbling on that side about the pending changes to what they sent across the hall the first time. I don't see the House just rubber stamping whatever the Senate sends to them although that's what it may take to get it to the Oval Office. I just don't see Nancy Pelosi allowing her chamber to be minimized like that.

Health care reform should always have been treated like a starter home. Health care reform advocates could have had that starter home decades ago had they not held out for the dream house. Politics have become so cut throat that compromise is not an option. As much as I loathed Ted Kennedy and do not miss him I have to admit that the guy was a master at compromise even if he couldn't drive an Oldsmobile for shit. I wonder what kind of an impact he could be having on this matter were he still alive and viable in the Senate. I think the whole Senate debacle would be quite different. This thing might have been inked in some form or fashion by now.


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