Candidates Outline Estate Tax Plans

July 2 - An article in the Wall Street Journal today outlined Obama's and McCain's plans to reform the estate tax, which is set to disappear in 2010 and then reappear a year later. Jason Furman, Obama's economic advisor, said Obama would:

"'add certainty and stability to the tax code by making the 2009 estate-tax parameters permanent... [retaining] the estate tax for the top 0.3%
of estates in order to restore fairness to the tax system.'"

Douglas Holtz-Eakin, speaking for McCain's campaign, proposes to:

"[Cut] the tax rate to 15%... 'so Americans will not be forced to pay more in death than they would if they had sold property prior to their death.'"