Tag: Farmers

New legislation that jumps the death tax to 55 percent of estates exceeding $1 million threatens 526,421 family farms, of about 25 percent of all farms in America, according to a Senate analysis.

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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Looks like Democratic Party funders George, and Warren, must be interested in acquiring some blocks of land on the cheap.  S.3412 was indeed passed by Party-line with Stabenow, and Levin voting Yea.  And, to think that re-elected moron, Alan Grayson's imbecile rhetoric used against Republicans, now similarly places over a half million family farms in jeopardy.  Don't get sick - Don't Die - or Democrats will tax your property away from your heirs.

Congratulations, you voted for it!  Ironic, yes?  Shouldn't be to anyone by now.