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Congress throwing small business and farmers/ranchers under the bus..............
"If you have a farm or a small business, would you like to pass it on to your children when you die? Well, unless Congress does something, it is going to become much, much harder to do that starting next year. Right now, there is a 5 million dollar estate tax exemption and anything above that is taxed at 35 percent. But on January 1st, the exemption will go down to 1 million dollars and the tax rate will go up to 55 percent. "
It should be a crime that someone should have to visit the undertaker and the tax man on the same day.
That said, I consider it a certainty that Obama and Reid will have a hard time keeping their hands off someone else's hard-earned money.
All they have to do is block any tax cut or spending bill out of the House and the taxes will automatically go up on January 1. And they look poised to do just that.
This definately not acceptable. The present administration continues to lead us into the total collapse of the middle class. Lets see...increased taxation spells DOOM for economic recovery in this good old US of A. At this rate we will have a definate have and have nots.....aka goverment employees and officials.....and the rest of us taxpaying subjects...
Congress throwing small business and farmers/ranchers under the bus..............
"If you have a farm or a small business, would you like to pass it on to your children when you die? Well, unless Congress does something, it is going to become much, much harder to do that starting next year. Right now, there is a 5 million dollar estate tax exemption and anything above that is taxed at 35 percent. But on January 1st, the exemption will go down to 1 million dollars and the tax rate will go up to 55 percent. "
The Republicans control the House of Representatives. This won't happen, unless THEY LET IT HAPPEN.
If the Senate and President refuse to act on a bill it does not matter what the house does.
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