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and art objects* for which I was responsible.
I believe that the tax-cut law renders rational estate planning impossible. Mostly, it will generate tons of new income for tax lawyers and CPAs. There is even some speculation that its convoluted provisions will prompt prudent owners of large farms to sell out before the end of this decade as the surest way of preserving family assets.
Others argue that in 2009 or 2010 Congress “will be forced politically” to reenact the major elements of this year's tax bill, particularly including the Estate Tax repeal. But. I doubt we should count on that. In 2011. people born in 1946 will turn 65. escalating demands on Social Security and Medicare - and we all know what happened .when the young veterans returned from Europe and the Pacific in 1945.
It is time for the President and the Congress to quit playing shell games and to quit lying to us. and instead to enact some real tax cuts and a simpler, predictable tax code - while leaving enough money in the Treasury to meet serious national needs.
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