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The federal estate tax was reinstated retroactively to January 1, 2010, by the 2010 Tax Relief Act. However, the favorable provisions are scheduled to expire at the end of 2012, when estates exceeding $1 million could be subject to the federal levy.
In the wake of past recessions, the housing industry provided a meaningful economic boost. This time around, the pace of the recovery has been more sluggish than expected, and ongoing weakness in the housing sector may be to blame.
One recommendation from the White House Task Force on Middle Class Working Families was for retirees to consider purchasing annuities to help provide a stable income. Investors who want their retirement portfolios to go the distance might want to learn more about variable annuities.
The terms "debt" and "deficit" are often used interchangeably to describe the federal government's financial situation, yet they have significantly different meanings. This explanation of the budget deficit and the national debt may help readers understand the conversation.
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