The Bush Era tax cut extension is a mixed blessing. On the one hand, middle class Americans will get to keep a decent share of their paycheck, but on the other hand, the rich who are already making a killing will also see a reduction and/or pay nothing in their taxes. The federal and most of the states are facing record deficits as well as record levels of income inequality this must surely go down as a clear sign of who runs the whole **bleep** show. Letting the tax cuts for the wealthiest Americans expire should have been a NO BRAINER. Capital gain’s in a estate situation should be taxed just like income 10 to 15 percent and the “stepped up basis” should be eliminated. Heck if I get 400,000 in a capital gain in a estate I would not mind paying my fair share of taxes. Now they will say that the “capital gain tax cuts” will create jobs thus create tax revenue will not allways be true . For example I get 500,000 in estate that is tax free, I turn around and buy more land with the money thus creating no tax revenue. Because the land that I purchased was a estate that the siblings revenue will not be paying tax because of a stepped up basis and/or no capitol gain tax or inheritance tax. You here some stories of very rich people that pass on millions to their hiers tax free in some states and they wonder why we have deficite's. We are just passing it off to our children.