Fox Nation is trying to ring in the new year with a healthy dose of fear as it reports one of the effects of not reaching a fiscal deal -- the estate tax will affect slightly more than the roughly .2% of estates in the nation. Except FoxNation reported it with the dramatic headline of "Death Tax Set to Skyrocket" via an article from Breitbart.com.

The article does indeed lay out a few details of the changes, such as the exemption moving from $5 million to $1 million and the rates increasing from 35% (they do not say it is to 55%). However it neglects a few key points which put this tax in perspective:

- As mentioned, this tax affects .2% of the electorate.

- Rates for the estate tax (which has been in place since 1916) have been historically higher than they are currently. This includes 55%-70% under Saint Reagan and 45% to 55% under Bush II.

- The exemption for estates has been historically lower , going from $675,000 to $2 million for instance under Bush II.