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Board of Directors (Jay)
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43,454 Posts
Discussion Starter #1
More than half a million family farms could be threatened with insolvency when a death tax increase rammed through the Senate by Harry Reid and the Democrats goes into effect, according to an analysis by the Senate Republican Policy Committee.

That’s about a quarter of all the farms in America, according to the Washington Examiner.

The tax hike raises the rate on family estates by a whopping 20 percent, from 35 percent to 55 percent. It also lowers the exemption threshold from $5.1 million to $1 million.

The increase was passed on a party-line vote over the summer.

Because of rising farm real estate values, that puts a quarter of the farms in the country in jeopardy should an owner die and try to pass the farm to his heirs.

Since the value of most farms is largely in the land, buildings and other non-liquid assets, heirs may find themselves having to sell off large portions of their farms to satisfy the tax debt.



The death tax is one of the most reviled levies to come out of Washington. It effectively charges grieving families because a loved one has died and tried to leave them some money or property that has already been taxed, probably repeatedly, during the life of its original owner.

This is the sort of thing that really fries my biscuit. Where the H-E-double-hockey-sticks do the Democrats get off thinking that they can steal more than half of a family’s inheritance just because someone dies?

The original American Revolution was started largely because of unjust taxation, and those taxes were nothing compared to what we are doing to ourselves today.

If there was any justice in the world, this death tax increase would get Washington politicians tarred, feathered and run out of town tied to a rail.

But the “fair share,” soak-the-rich narrative has this nation so cowed that it seems unlikely anything will change as we watch the government steal what’s left of our farming culture, then wonder why people won’t be able to afford food at the grocery store.
 

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Board of Directors (Jay)
Joined
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43,454 Posts
Discussion Starter #2
More than half a million family farms could be threatened with insolvency when a death tax increase rammed through the Senate by Harry Reid and the Democrats goes into effect, according to an analysis by the Senate Republican Policy Committee.

That’s about a quarter of all the farms in America, according to the Washington Examiner.

The tax hike raises the rate on family estates by a whopping 20 percent, from 35 percent to 55 percent. It also lowers the exemption threshold from $5.1 million to $1 million.

The increase was passed on a party-line vote over the summer.

Because of rising farm real estate values, that puts a quarter of the farms in the country in jeopardy should an owner die and try to pass the farm to his heirs.

Since the value of most farms is largely in the land, buildings and other non-liquid assets, heirs may find themselves having to sell off large portions of their farms to satisfy the tax debt.



The death tax is one of the most reviled levies to come out of Washington. It effectively charges grieving families because a loved one has died and tried to leave them some money or property that has already been taxed, probably repeatedly, during the life of its original owner.

This is the sort of thing that really fries my biscuit. Where the H-E-double-hockey-sticks do the Democrats get off thinking that they can steal more than half of a family’s inheritance just because someone dies?

The original American Revolution was started largely because of unjust taxation, and those taxes were nothing compared to what we are doing to ourselves today.

If there was any justice in the world, this death tax increase would get Washington politicians tarred, feathered and run out of town tied to a rail.

But the “fair share,” soak-the-rich narrative has this nation so cowed that it seems unlikely anything will change as we watch the government steal what’s left of our farming culture, then wonder why people won’t be able to afford food at the grocery store.
 

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Retired BOD - Doug
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39,640 Posts
I read an article not long ago about who all this would effect It's scary! They talked to a family in Washington state that has had a small lumber business for over 100 years. When the current head of the household passes away they will have no option but to break up their assets, land, sawmill etc. to pay the government taxes. Only the big corporations that contribute the the party in power will be able to continue doing business, and many of them are foreign owned with tax incentives. It's the American working man/woman that have to foot the bill for those to lazy to work. Food, housing, medical care, cell phones and large screen TV's so politicians can count on their votes.

Between the worthless leaches and big unions a regular citizen doesn't have a chance to do better and those few that do will only leave their families with the joy of giving over half of what they have worked for to the government leaches.

BTW...that also includes those fortunate enough to have a nice home. Appreciation of something you worked for isn't going to help you if your property ends up valued at over a million. Your spouse will have to sell and give over half to the government and be on the streets. See why so many rich people are leaving the country...
 

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Greg
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19,956 Posts
There is no doubt in my mind that obama has a plan to strip the wealth from those who in some cases have spent generations building. He has free rain to pass laws that haven't even been written, not counting reviewed. So what's keeping him from inslaving a nation. No need to break the law when you can just write a law and then enforce it no matter how distructive it is to the nation. Very sad times.
 
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