PreviewThe people shape their own destiny
-- either as free people or as slaves.

If they remain self-reliant, they stay free.
Ever expanding state power destroys lives.

Government panacea is a defective idea.
Email our servants:

President
Representative
Senator

Friday, January 2, 2009

Estate tax fairness

Politicians want to bring back the estate tax. Estate tax is the tax that the heir pays when his or her parents die.

Not very many people die in a year, so the estate tax is sold to us as "fairness." Politicians say it is not fair the living should benefit from the dead -- only the government should benefit.

What concerns me about the estate tax is the family farm. If your family worked 640 acres (a small farm) and the land and machinery was valued at $1.5 million, when your parents die, you will have to find about $700,000 to pay the estate tax. Do you have that kind of money lying around?

So you have to sell the farm. Only are only two types of buyer who will benefit. Therefore only they will want to buy the farm: the Big Corporate Land Developer, so the farmland is turned into subdivisions, or; the Mega-Farm Corporation. These are the only types of buyer who will benefit.

I have nothing against big corporations just because they are big corporations. Some are good corporate citizens. But the politicians' policy benefits these mega corporations at the expense of the family. Ask yourself the question, What personal gain is in it for the politicians?

Back in the 1990's, the Republicans dismantled the estate tax. The Democrats screamed this benefited the rich. Bull. The Democrats only want to benefit their big corporate buddies. Now the Democrats control the government, the estate tax is sure to make a come back.

No comments: