Buffet and the left are liars regarding this issue. It is a lie that less than 1% of taxable estates are farms. I am an estate planning attorney in Texas, and most of our clients are ranchers who make a very modest living but who own ranches worth millions (often passed down over the years when they were not worth much), and they are having to sell off the ranches to pay the estate taxes at death. If a large part of our practice is farms here, it must be the same all over the US. I am not sure where Buffett got his numbers, but they are cooked. There are lots of people with small businesses and farms that are hurt by the death tax.
I am all for getting rid of the death tax, even though it would require me to practice more in other areas to make up for the loss of work.
I laugh when I hear the left say very few people and only the rich get his with the estate tax.
I have been a tax professional for over 30 years and have heard all the same lies...Buffet is the richest commie in our country whose forked tongue would have everyone else’s huge estate be subject to large taxes but then allow him to transfer most of his HUGE estate tax-free to Bill Gates’ private foundation to be doled out by the world’s richest liberal.