Ranchers, farmers brace for 'death tax' impact

[GURPS (Premo)]

"The idea behind the estate tax is to prevent the very wealthy among us from accumulating vast fortunes that they can pass along to the next generation," said Patrick Lester, director of Federal Fiscal Policy with the progressive think tank -- OMB Watch. "The poster child for the estate tax is Paris Hilton -- the celebrity and hotel heiress. That's who this is targeted at, not ordinary Americans." Read more: http://www.foxnews.com/politics/2012...#ixzz2CfYmGLy1




How progressive .....

[Gilligan (Premo)]

This part will devastate some lives:

But according to the American Farm Bureau, up to 97 percent of American farms and ranches will be subject to an estate tax where the exemption is set at $1 million.

Read more: Ranchers, farmers brace for 'death tax' impact | Fox News

[cwo_ghwebb]

It seems patently unfair that the government feels 'entitled' to the wealth of its citizens.

But life isn't fair.

I thought the exemption was to rise to 3.5 million.

[SamSpade]

This is one area where the government seriously needs to make an exception in the tax laws. It's ridiculous that a farm that is passed on from generation to generation is treated the same as though it were a completely new company being sold for a profit.

While I've always hated even the concept of property taxes - because it amounts to government racketeering - this is worse, because it affects the livelihood of farms and ranches across the nation, because their chief asset is *land*.

[GURPS (Premo)]

nope it is evil to accumulate wealth or property ..... give it to someone from Occupy ...........