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Tag: S.3412

Stabenow, Levin, Obama Target 10,432 Michigan Family Farms

By Corinthian Scales, Section News
Posted on Wed Dec 12, 2012 at 12:58:37 PM EST
Tags: Debbie Stabenow, Carl Levin, party-union line . . . every time, Obama, S.3412, Michigan, Farmers, Do Not Die, Michigan Farm Bureau, How's that crony capitalism working out for you?, Wealth Redistribution, Government Funding, Farm Bill, Farm Subsidies, Porkulus Projects, Democratic Party, Marxist regimes, UN Agenda 21, Control the land - Control the food, Serfdom (all tags)

The Examiner

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.
MORE

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.