Posted on 08/27/2021 12:59:45 PM PDT by gattaca
We aren’t farmers, just long-time homeowners. This law destroys 30 years of our tax planning and wipes out our kids’ inheritance. All to give our assets away to undeserving slackers, lay-about, and neer-do-wells. They are telling me and others in the same situation to “spread our wealth around.”
To farmers: It’s nothing personal, you understand. Maybe learn coding?
“ Chinese agents and Bill Gates waiting in the wings to buy up farms at foreclosure.”
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Exactly as planned, IMHO.
It’s all to kill family farms so there are only big corporate farms.
I have ethanol free here too. But I have to pay extra for it.
PatriotarchyQ wrote:
“
“The need for fact-based reporting that offers real solutions and stops the spread of misinformation has never been greater. “
Pretty bold at the end of an article that misstates a core fact - the proposal is for stepped-up basis that applies the tax at sale by the heir, not at death as the article states.”
And if the heir doesn’t sell, then the tax doesn’t get applied, correct?
and what instruments did he draw up to avoid same said taxes?
That’s too bad. I don’t recall Iowa farmers having much skin the game in 2020. A lot folks losing big under Biden don’t seem to have cared much at all about Trump winning.
Food scarcity means more dependence on the government. So Biden must do all that he can do insure it happens.
Shouldn’t any business be incorporated to protect against these issues? I thought that was the point of incorporation.
Bolsheviks
I’m getting lots of offers on our farm as of late. “No realtor! Cash! Just sign here...”
No thank you.
Wouldn’t putting it in a trust protect that?
Bernie is there in Iowa selling the new taxes right now. How’s he making out.
Wouldn’t these be direct taxes — to be apportioned. which make them impossible to implement. they must lump these into income taxes as appurtenances to wealth? not really income. but taxed by decree.
And in unrelated news Gates is set to be the world’s largest owner of farm land. Blackstone announces record profits in rental market.
The Biden Administration is working for the enemy. That is the only explanation for thesis amount of ineptitude.
I agree with that. However, subsidies also hurt those being subsidized. It keeps bad business people in business and prevents people from getting the correct messages from the market. There was a great article about that a few years ago at the Foundation for Economic Education. Government interference in the market is ruining farmers, but nobody seems to see it.
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