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Old 12-14-2012, 09:50 AM
 
29,409 posts, read 20,473,305 times
Reputation: 5445

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What is that you say? The farmers will just say to heck with it and stop producing food? Well there are already executive orders in place to deal with that scenario. Eat the evil rich.

"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. Farm values are largely tied up in non-liquid assets like land, buildings, and livestock. Many farm and ranch families would be forced to sell their assets to satisfy Washington Democrats' insatiable appetite for tax money. Up to 24 percent of America's farm and ranch families could be forced to hand over a large chunk of their heritage to the Internal Revenue Service when a family member dies. This would economically devastate rural communities. The President and Senate Democrats should join Republicans in rejecting this irresponsible policy."


Democrats Target Family Farms for Death Taxes | Policy Paper | Senate Republican Policy Committee
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Old 12-14-2012, 10:49 AM
 
12,282 posts, read 11,924,361 times
Reputation: 4977
Why didn't these Privileged people with such an opportunity just by a Life Insurance policy to cover this event?

Privileged | Define Privileged at Dictionary.com


1.belonging to a class that enjoys special privileges; favored: the privileged few.
2.
entitled to or exercising a privilege.
3.
restricted to a select group or individual:
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