According to the analysis from the Senate Republican Policy Committee, chaired by Wyoming's John Barrasso:
If President Obama and Senate Democrats do not act, the federal government will begin taking more than half the value of family farm estates exceeding $1 million beginning next year. This summer, Majority Leader Harry Reid and Senate Democrats passed legislation (S.3412) on a party-line vote that allows Washington to take up to 55 percent, a huge increase over today's top rate of 35 percent, and drop the tax's exemption from $5.1 million to $1 million. The lower exemption -- combined with soaring farm real estate values -- could put more than 420,000 additional farm estates at risk from the death tax.
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5 comments:
People on the government dole could not care less about this or small businesses going under.
I socialism the state takes control of the farms to control food distributioin. The wars are coming folks. Back yard gardens will be a necessity not a pleasure.
THIS is how they "serve" us .....by passing laws that take OVER HALF of what they never earned from people who have worked their entire lives (and hard work, too) to build something for their children and their families. And we started a Revolution over some stupid Tea tax??? Think of what Jefferson would say about our current affairs....
don't give up the fight. make calls, write emails, letters etc. keep up the pressure, educate others.
when you give up it truly will be over...
These famlies are going to have to buy their own farm back from their estate with a loan because of taxes. And the wealth was already built with after-tax money.
The uber-rich are going to buy our farms for a pittance.
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