Ranchers, farmers brace for 'death tax' impact

FoxNews ^ | November 16, 2012 | William La Jeunesse

[george76]

the estate tax -- also known as the "death tax."... set to soar at the beginning of 2013

...

The estate tax dates back to 1916 when then-President Woodrow Wilson imposed the tax of 1 to 10 percent on the wealthy because World War I reduced federal government revenues. Under Franklin Delano Roosevelt, the tax rose to 77 percent, as Congress tried to prevent wealth from becoming concentrated among a few powerful and super-rich families.

Ironically, many nations historically more concerned with class and wealth -- namely Russia and China -- have since abandoned their estate taxes.

[texas_mrs]

Yes, a site I found online to explain what I wanted to say, but am too stupid to do so.

[texas_mrs]

Here is the site, if you want to read more:

http://www.forbes.com/sites/robclarfeld/2012/10/23/year-end-estate-tax-considerations-time-is-running-out/