December 7, 2010 by staff
Estate Tax, Agriculture and many groups of farmers have been very vocal during the lame duck Congress in favor of reform, if not eliminating the estate tax. The basic argument is that it threatens family farms and ranches that tend to be asset rich and cash poor with the specter of having to sell the very land that sustains the company to meet tax obligations heirs.
(Yesterday, the White House announced a tentative agreement with the Republican Congress to adjust the property tax, which was suspended in 2010 to 35% on real estate transactions over $ 5 million per person and $ 10 million dollars per couple for the next two years).
In assessing the arguments of groups AG, their principles are good, farmers and ranchers should receive special protection as vital contributors to our food, but the message is an error.
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