Estate Tax in Limbo

In addition, repealing the estate tax will cost the Treasury nearly a $1 trillion in its first 10 years -- more than the entire shortfall in Social Security, Robert Reich, former secretary of labor in the Clinton administration, said in a recent commentary on Marketplace Public Radio. And they'll need to make up for that loss in other places -- such as your tax return.

Finally, remember that if the estate tax is repealed, then the step-up in basis disappears too. That could hurt the little guy way more than the estate tax hurts the wealthy.

So, while there will be some form of estate tax, no one knows what it will be. Pull out that Magic-8 ball and ask it.

That's pretty much how our lawmakers seem to make decisions these days anyway.