Baker Hostetler partner Ed Beckwith was quoted in a December 13, 2010, article published on TheStreet, a leading financial site. In “Bipartisan Bill Would Slash Estate Taxes,” TheStreet explained that the new compromise tax bill slashes the top estate tax rate and significantly reduces the number of taxable estates.
“This will make the estate tax a levy only on the very rich,” Beckwith said of the bill, which increases the estate tax exemption to $5 million and slashes the top rate to 35%.
“The real money is in the rate,” Beckwith added. “The superwealthy don't care about the exemption, they’ve already given that away. They care about the rate.”