Minnesota Has Increased the Incentive to Move to Florida.

THE WALL STREET JOURNAL REVIEW & OUTLOOK  August 20, 2013 Washington finally declared a truce on the death tax this year, with estates now taxed at 40% with an exemption of $5 million. President Obama insisted on preserving this tax to spread the wealth, though it raises less than 2% of federal revenue and discourages lifetime savings, as even a 1981 study by Mr. Obama’s former chief economist Larry Summers showed. Now the death-tax debate has shifted to state capitals, with mixed results depending on which party runs the state. Prior to 2001, states could impose an estate tax of up to 16% with no […] Read more »