Sunday, December 19, 2010

Return of estate tax will hurt the family farm

Amber fields of taxes
Taxpayers may have one a battle, albeit a temporary one, with the extension of the Bush tax cuts. But New Year's Day will see return of the federal estate tax. Doug Ross points out that this will hurt family farmers. On paper many of them appear rich, but most farmers' assets are tied up in land and equipment. To pay the tax, the inheritors often have to sell machinery--or land, which could mean the entire farm.

More change I can't believe in.

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2 comments:

  1. Anonymous10:28 AM

    Sounds like the author works for the corporate farmers as there are very very few FAMILY farms that will be touched by the estate tax. The author states his opinion but doesn't provide any details, how convieniant for him. Just because they say it, doesn't mean it's true. Where are all of our patriots? Overseas with our jobs and our money? The banks and the politicians owned by corporate farms have helped eliminate the family farms, they don't want to pay any taxes and yet the subsidies keep on coming. Corporate America = plutocracy

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  2. Marathon Pundit5:55 PM

    Sorry, I work in telecom, not for a corporate farm.

    The estate tax creates corporate farms, many inheritors until the bulk of the tax was repealed just sold their land.

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