By allowing the estate tax to disappear in 2010 (only to reappear in 2011), the government is allowing the heirs of the richest of the rich (who are unlucky enough to die this year) to reap a windfall profit.

The most notable recent example is George Steinbrenner, who died earlier this year.  His heirs will pocket an estimated $500,000,000 (that's 1/2 of $1 billion if you're not used to seeing that many zeros) more than had Steinbrenner died in a year other than 2010.

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Please don't conclude from the above commentary that I support the estate and gift tax.

 I am adamantly opposed to any tax that:

1. Generates less revenue than it costs to collect
2. Taxes income that has already been taxed multiple times.

Sadly, the estate tax achieves both.

I am, however, getting a little tired of hearing politicians talking out of the side of their mouths about "taxing only the rich."

Last time I checked, most people consider billionaires to be rich.

This tired debate can be solved by scrapping our pitiful excuse for a tax code and replacing it with a consumption-based tax ala the Fair Tax.

More on the Fair tax:

Fair tax website

Fair tax FAQ

The case for the fair tax

Why democrats should love the fair tax

"Do not pervert justice; do not show partiality to the poor or favoritism to the great, but judge your neighbor fairly."

-- Leviticus 19:15