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Message
Biden slipped in a hint in his tax proposal that could be very popular in farm states
Posted on 5/14/21 at 11:22 am
Posted on 5/14/21 at 11:22 am
While proposing to lower the exemption amount of the horrible estate tax Biden did say he would exempt farms and small businesses passed on to heirs from all estate taxes.
He was not clear in how he would do this but if this becomes cut and dry exemption from estate taxes for heirs it will be quietly huge in the farm belt.
I would rather all estate taxes disappear but I would support these exemptions if we can get them.
I don’t trust any democrat.
He was not clear in how he would do this but if this becomes cut and dry exemption from estate taxes for heirs it will be quietly huge in the farm belt.
I would rather all estate taxes disappear but I would support these exemptions if we can get them.
I don’t trust any democrat.
This post was edited on 5/14/21 at 11:23 am
24
Posted on 5/14/21 at 11:23 am to I B Freeman
quote:
I don’t trust any democrat
quote:
I B Freeman
Posted on 5/14/21 at 11:23 am to I B Freeman
Tbe guy doesnt have a clue. You dont know if it was a hint or a mental slip.
Dont pay attention to him.
Dont pay attention to him.
Posted on 5/14/21 at 11:24 am to momentoftruth87
What he said ^^^
Posted on 5/14/21 at 11:24 am to I B Freeman
No way people would be smart enough to start a small business or farm right before they die
Posted on 5/14/21 at 11:24 am to I B Freeman
since balancing the budget doesnt matter in washington, taxation is only done to "penalize"
estate tax is designed to penalize making the life of your kids better then what you had yourself
get rid of the death tax all together.....those assets were already taxed one, not fair to tax again
estate tax is designed to penalize making the life of your kids better then what you had yourself
get rid of the death tax all together.....those assets were already taxed one, not fair to tax again
Posted on 5/14/21 at 11:25 am to whiskey over ice
Estate taxes are a huge issue with farmers and family owned businesses.
Posted on 5/14/21 at 11:25 am to I B Freeman
It helps mostly white Americans in red America, I’ll have to believe it when I see it.
Coincidentally I’m meeting with my in-laws in 5 minutes about dividing their land and assets up.
Coincidentally I’m meeting with my in-laws in 5 minutes about dividing their land and assets up.
Posted on 5/14/21 at 11:28 am to tigeraddict
I agree but here is a Democrat proposing to do just that for family owned businesses and farmers.
Posted on 5/14/21 at 11:28 am to MeatCleaverWeaver
It is hard to believe
What is bad is he proposed taking the exemption down to $3.5 million from the present $11 something million
What is bad is he proposed taking the exemption down to $3.5 million from the present $11 something million
This post was edited on 5/14/21 at 11:30 am
Posted on 5/14/21 at 11:30 am to I B Freeman
quote:
I would rather all estate taxes disappear but I would support these exemptions if we can get them.
I am 100% against the government favoring one group over another. Taxes need to be fair and across the board. All the things we hate about taxes are because of crap like this.
Posted on 5/14/21 at 11:31 am to lsu13lsu
You are correct but favoring groups over other groups is nothing new. The poor have always been favored over the rich in tax policy.
Posted on 5/14/21 at 11:32 am to I B Freeman
Noway Big-Ag industry will allow that. That's how they have grown to what they are. Farmer John dies, son inherits the farm, has to sell off 50% just to pay the taxes. Big-Ag buys up every acre they can. Then finds a way to drive the little guys further out of business bit by bit.
Posted on 5/14/21 at 11:32 am to I B Freeman
His handlers may not be happy with that statement.
Posted on 5/14/21 at 11:33 am to I B Freeman
Amazing that the party that brings us the communist ANTIFA would ever consider reducing the estate tax, I guess they really are for the preservation of property for the super wealthy, and poor communism for everyone else.
Posted on 5/14/21 at 11:33 am to I B Freeman
Are the down voters socialist or do they simply hate Biden so much they would oppose estate tax relief for farmers and small business owners????
Posted on 5/14/21 at 11:34 am to I B Freeman
What does this have to do with tariffs on China?
Posted on 5/14/21 at 11:34 am to I B Freeman
Most estates are not taxed anyway. I think the exemption has ballooned up to 11 million dollars.
How many family farms are worth 11 million?
There's a reason younger generations in the heartland have decided to pass on running the family farm and go to college/big city instead.
Posted on 5/14/21 at 11:36 am to Stingray
Well they want to dramatically reduce the amount of inheritance exempt from estate tax.
It is interesting they would crave out direct heirs of farmers and family business owners from their money grab.
It is interesting they would crave out direct heirs of farmers and family business owners from their money grab.
Posted on 5/14/21 at 11:36 am to AUFANATL
I don't make any profit on my farming activities outside of growing some marijuana. I'd make more money raising goats than my cattle.
But the land has skyrocketed in value.
But the land has skyrocketed in value.
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