The estate tax, one of the most progressive tax policies in America, only currently affects the wealthiest 2 percent of Americans. Yet contrary to personal self interest, many members of Congress are not basing their position on the issue on their own pocketbooks. In his recent article in Tax Notes, Martin Sullivan made the ironic observation that on average, the more wealthy members of Congress, many of whom would be substantially taxed under the estate tax, are fighting the Bush administration’s attempts at repeal.

The Bureau of Labor Statistics November Job Report shows a continuing disappointing trend in employment as the nation’s employers added 112,000 jobs in November, far below analyst projections of least 200,000 jobs. This report is a bit of a surprise after the October report showed a strong month with 303,000 jobs added. The 112,000 jobs, about what was added in September this year, is below the approximately 140,000 jobs per month necessary to keep pace with new workers entering the workforce.

The White House will host a two-day summit in Washington, DC, to gather expert opinions on a variety of topics related to the economy, including budget and tax reform, Social Security, extending expiring tax cuts and health care. The Dec. 15-16 summit will solicit input from the business community, including small businesses.