Thursday, February 26, 2009

President's Budget Based on Large Assumptions

The outline of President Obama's federal budget is expected today and early reports indicate that this bold budget is based on several major assumptions of significance to HARDI distributors. First, the plan assumes there will be revenue from a carbon cap-and-trade system which may overestimate the support such a plan might receive in Congress, especially given the economy's current issues. Second, the plan also assumes that there will be estate tax revenue in 2010. Current estate tax law includes a one-year repeal of the estate tax in 2010, so the administration appears to be signaling the official start to the "death tax" debate.

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