Ranchers, farmers brace for 'death tax' impact

[farmerbyron]

Why do you think I'm signing up for all the free cash I can? If I'm going to have to rebuy half the farm one day, I'm going to bleed those bastards for everything I can to help offset this BS.

 

[farmerbyron]

Couldn't you just put the property in a trust and add the kids as trustees?

I think you are still on the hook if you transfer any of the property in the trust to yourself. Plus, any production will have to be placed under the name of the trust. Could be wrong, maybe someone more knowledgable could set me straight.

 

[ronny]

When this all plays out, I think we'll find that this redistribution didn't work. For instance, making homes over $250,000 ineligble for tax relief will result in a lot of homes in this range unsold and very few will be built. What will that do to the economy?

Then someone will come along and say "$250,000 didn't work; let's drop it to $150,00". Of course, that won't work either.

We're nowhere near the bottom yet, folks. And, we will never start back up until we bounce off the bottom. A lot of us won't be around when, and if, that ever happens.

I hope most people with family farms have seen this coming and taken steps to mitigate the negatives.

 

[RickN]

I was being sarcastic. The vast majority of homes over $250,000.00 are in blue states and the film industry craps their panties every time someone mentions bringing back the movie tax.

 

[MLRyan]

It's sad, but my family has already prepared to pay this for my Grandpa and my Dad. We aren't rich by any means, but we have the misfortune of owning land in the US of A.

 

[mksmth]

The people asked for it, bend over for Obama! Stupid SOB's...

The only problem is the people who put him back in dont have $4it to share so their loss is virtually nothing, yet. Once we run out of money then they will will see what they did.

 

[inactive]

I was being sarcastic. The vast majority of homes over $250,000.00 are in blue states and the film industry craps their panties every time someone mentions bringing back the movie tax.

I caught the tongue-in cheek. But movies (as I am sure you well are aware Rick) are one of the biggest tax scams out there. They all lose money on paper. I'm not a fan of taxes, but I'm all for ending tax loopholes, and Hollywood Accounting is a good place to start.

 

[HSIG]

Couldn't you just put the property in a trust and add the kids as trustees?

I was thinking the same thing.

 

[ez bake]

I know this is hard for you lefties to understand but good freakin' god ! ............... How about spending only what you take in? No more credit cards on the backs of the American people. The Gov't grows like a cancer every single year. At this point the cancer is terminal and I don't think there is anything the nitwits in Washington DC can or will do about it.

The whole concept of a "death tax" on property/goods that have already been taxed is so unfair, so ridiculous, just completely unfair. 1 million $'s in total wealth really isn't that much these days when you look at a lifetime of achievements, wealth and savings. To take anything whatsoever in a "death tax' is outrageous.

I've got to ask - who are these lefties that spend their time OSA?

Couldn't you just put the property in a trust and add the kids as trustees?

http://www.merchantbook.com/index.p...mpany&userid=19611868:kevin-kester&Itemid=262

If I'm finding the right Kevin Kester, then it appears that Kevin Kester's ranch is actually a company (and if my guess is right, the land and cattle are all owned by the company - at least it would be if her were smart), so this entire article might not even actually apply to him. Now don't get me wrong, the new Obama-era small business taxes to cover Obama care are going to screw him to the wall, but if "he" doesn't own the land or assets, then this entire article was BS.

Way to go Faux News.

 

[HMFIC]

I'm still shocked at reading how much professional sports franchises get away with not paying due to their "non-profit" status. The government could make up a fair bit of tax revenue there...