Ranchers, farmers brace for 'death tax' impact

[TheGreatGatsby]

The poor have their pre-death tax as well. When you go into a nursing home on Medicaid they can take your home/farm and use it to pay for your care.

And who should pay their bill? Me?

Nope they should die if they cannot contribute. It is the partiotic thing to do.

Go away. It's the patriotic thing to do.

 

[Ravi]

$13 million? I wonder what his farm is worth to generate that high of a tax.

This story sounds phony.

 

[Claudette]

No one should ever have to pay again for an estate tax once the taxes have been paid for the estate.

I agree. The estate or death tax is a bunch of bullshit.

Why should the Govt either STate of Fed get money because someone dies?

Those folks payed taxes their whole live and to have their families have to pay when they die is the biggest bunch of shit I have ever heard of.

No one shouldhave to pay those taxes.

 

[GuyPinestra]

$13 million? I wonder what his farm is worth to generate that high of a tax.

This story sounds phony.

You should try READING the OP, Ravi, and the link for it. Then you'd know that we were talking about a 22,500 acre cattle ranch and a 55% Death Tax.

The land is worth a little over $1,000 an acre.

 

[Ravi]

$13 million? I wonder what his farm is worth to generate that high of a tax.

This story sounds phony.

You should try READING the OP, Ravi, and the link for it. Then you'd know that we were talking about a 22,500 acre cattle ranch and a 55% Death Tax.

The land is worth a little over $1,000 an acre.

So his farm is worth over $26 million?

 

[GuyPinestra]

$13 million? I wonder what his farm is worth to generate that high of a tax.

This story sounds phony.

You should try READING the OP, Ravi, and the link for it. Then you'd know that we were talking about a 22,500 acre cattle ranch and a 55% Death Tax.

The land is worth a little over $1,000 an acre.

So his farm is worth over $26 million?

Around that figure, yes. You have a problem with that?

 

[Ravi]

Only in that the article is trying to portray this farmer as the average middle class farmer.

His heirs can easily escape the tax, btw, so this entire whine is just political bullshit.

Dynasty trusts let wealthy escape estate, gift taxes forever | 2011-07-28 | Indianapolis Business Journal | IBJ.com

 

[editec]

A man who just paid $2 million to retain his family farm would now be forced to pay $13 million. He stated that he could not afford that.

The government is systematically confiscating family farms and businesses via the death taxes.

Reads like hysterical Bullshit to me, gg.

Why?

THINK about it

The difference in tax burden on an estate assessed with the $5,000,000 tax break versus an estate assessed with ONLY a $1,000,000 tax break?

CAN NOT BE $11,000,000​

That would mean that the tax accessed on the value from $1,000,001 to $5,000,000 would be eqaul to a rate of taxes of

$4,000,000/$11,000,000 = 275% ​

Now I understand that in FOX's world of faith-based math that might seem possible, but according to the IRS, that really is bullshit.

 

[CrusaderFrank]

$13 million? I wonder what his farm is worth to generate that high of a tax.

This story sounds phony.

You should try READING the OP, Ravi, and the link for it. Then you'd know that we were talking about a 22,500 acre cattle ranch and a 55% Death Tax.

The land is worth a little over $1,000 an acre.

Ravi ran out of fingers to do the math

 

[CrusaderFrank]

A man who just paid $2 million to retain his family farm would now be forced to pay $13 million. He stated that he could not afford that.

The government is systematically confiscating family farms and businesses via the death taxes.

Reads like hysterical Bullshit to me, gg.

Why?

THINK about it

The difference in tax burden on an estate assessed with the $5,000,000 tax break versus an estate assessed with ONLY a $1,000,000 tax break?

CAN NOT BE $11,000,000​

That would mean that the tax accessed on the value from $1,000,001 to $5,000,000 would be eqaul to a rate of taxes of

$4,000,000/$11,000,000 = 275% ​

Now I understand that in FOX's world of faith-based math that might seem possible, but according to the IRS, that really is bullshit.

Assessed?

You poor stupid fuck

You clueless stupid fuck

It's assessed for property tax purpose, estate tax is appraised value, not assessed.

This is how clueless you need to be about economics to be a Democrat

Are you really this stupid and fucking ignorant?

 

[Moonglow]

real estate taxes suck also, let's get rid of them also, since it keeps you from ever actually owning the land you buy.

 

[freedombecki]

He won't pay the estate tax, his heirs will..

Distinction without a difference.

Um. No. Not really.

A tax on you is taking something from you.

A tax on your estate AFTER you die is taking from someone else who didn't have it to start with. And you don't care. You're dead. You no longer exist. (Sorry, there's no afterlife, either. Learn to deal.)

[

Unsupported assertion, assumes facts not in evidence.

You fail in all respects, as usual.

Uh, no, not really. Most family farms get sold...

Top 25 things vanishing from America: #1 -- The family farm - DailyFinance

According to the USDA, 5,382,162 farms dotted the nation in 1950, but this number had declined to 2,121,107 by the 2003 farm census (data from the 2007 census hasn't yet been published).

Coveting another family's assets is not a good idea. Libbies don't mind stealing someone elses' assets, and in the case of farm ownership, it ensures the heirs will not be able to carry on its unique products to the public with the knowledge their parents handed down to them to produce a particularly good farm product such as preserves, smoked meat, stone ground whole wheat, organic garden fresh greens, herb teas, home-made herbal soaps that repel bedbugs, and handmade items the ladies make to brighten other folks' homes so they can buy feed for the waterfowl visiting the lake and leaving their manure on the field that increases crops without having to buy expensive stuff, which keeps consumer costs low.

Throwing the baby out with the bathwater is a truly dulliard approach to taking away family farms, Joe.

Hands fucking off.

 

[freedombecki]

real estate taxes suck also, let's get rid of them also, since it keeps you from ever actually owning the land you buy.

When politicians inflict high property taxes on farms, it can decimate a farming family that has spent 40 years working the land and have to take time off for retirement. In 5 years of high taxes, a senior family can lose its farm to criminal government that expropriates lands when taxes go unpaid.

Maddog expropriating government tax-fixing landlords are more vicious than 30s banks were, because they resell the land at a loss to get $2,000, and their circle of friends make off like bandits who buy it for "back taxes". It's a scam, Moonglow. Wake up.

You think they're giving back to society when they're stealing land? Think again.

 

[freedombecki]

Go hit the bong again, that's the dumbest question of the month!

Since they're worried about a $13 million dollar tax I would imagine it is...

On a 22,000 acre ranch they can afford it.

And just who the fuck are YOU to decide what somebody else can afford??

They're the people that take umbrage at the 10 commandments being displayed. It's inconvenient to look at someone telling them:

Thou Shalt Not Covet
Anything That Is Thy Neighbor's
​

 

[boilermaker55]

you see they never look at the real picture, just what the faux news boys/girls tell them.

Only liberals are demented to believe a person's wealth should be taxed 1 more time once they die before their relatives can get what is left over after paying debts and taxes.

A family gas station is left with a 30 year old child of the parents when the parents are killed in a robbery of the gas station....but since the business was operating on the edge of profits and losses, the death tax means the child has to sell the business to pay the taxes....fucking insane.

Why don't you try leaning some facts, instead of parroting right wing bullshit and making yourself look like an idiot.

The estate tax currently is waved on anyone's estate that is under 5 million dollars, and if it is restored to the clinton level, it will be waived for all estates under a million.

I don't know of any mom and pop gas station that is worth more than a million dollars,..

 

[GuyPinestra]

Only in that the article is trying to portray this farmer as the average middle class farmer.

His heirs can easily escape the tax, btw, so this entire whine is just political bullshit.

Dynasty trusts let wealthy escape estate, gift taxes forever | 2011-07-28 | Indianapolis Business Journal | IBJ.com

What part of "drives a 12 year old truck, works dawn til dusk and make less $$$ than the average Washington bureaucrat" did you miss?

 

[GuyPinestra]

A man who just paid $2 million to retain his family farm would now be forced to pay $13 million. He stated that he could not afford that.

The government is systematically confiscating family farms and businesses via the death taxes.

Reads like hysterical Bullshit to me, gg.

Why?

THINK about it

The difference in tax burden on an estate assessed with the $5,000,000 tax break versus an estate assessed with ONLY a $1,000,000 tax break?

CAN NOT BE $11,000,000​

That would mean that the tax accessed on the value from $1,000,001 to $5,000,000 would be eqaul to a rate of taxes of

$4,000,000/$11,000,000 = 275% ​

Now I understand that in FOX's world of faith-based math that might seem possible, but according to the IRS, that really is bullshit.

You should break out the calculator and take a deep breath. The man paid a 10% estate tax when his grandfather died. At that time the farm was valued at $20 million. Now it's valued at $26 million and subject to a 50% estate tax when HE dies.

 

[Ravi]

Only in that the article is trying to portray this farmer as the average middle class farmer.

His heirs can easily escape the tax, btw, so this entire whine is just political bullshit.

Dynasty trusts let wealthy escape estate, gift taxes forever | 2011-07-28 | Indianapolis Business Journal | IBJ.com

What part of "drives a 12 year old truck, works dawn til dusk and make less $$$ than the average Washington bureaucrat" did you miss?

What part of $26 million in assets do you not understand?

 

[GuyPinestra]

Only in that the article is trying to portray this farmer as the average middle class farmer.

His heirs can easily escape the tax, btw, so this entire whine is just political bullshit.

Dynasty trusts let wealthy escape estate, gift taxes forever | 2011-07-28 | Indianapolis Business Journal | IBJ.com

What part of "drives a 12 year old truck, works dawn til dusk and make less $$$ than the average Washington bureaucrat" did you miss?

What part of $26 million in assets do you not understand?

Accumulated over 4 or more generations of back-breaking work!

What part of "You didn't EARN that!" escapes you?

 

[Ravi]

What part of "drives a 12 year old truck, works dawn til dusk and make less $$$ than the average Washington bureaucrat" did you miss?

What part of $26 million in assets do you not understand?

Accumulated over 4 or more generations of back-breaking work!

What part of "You didn't EARN that!" escapes you?

He's still not your typical middle class farmer. And I did show you how his heirs could get around the estate tax.

That said, I think all income should be taxed at the same rate, be it inherited, earned, or capital gains.

But as long as we get these phony liars crying about something they can easily avoid that will never happen.

You're part of the problem, dude.