” The infamous ‘death tax’ could come at an unbearable cost to millions of Americans that want to keep the family farm. If your estate exceeds $1 million, your family might have to fork over 55% to the IRS …just because you passed on. This tax is especially going to hit family farms and ranches, some of which might have been owned for generations. The Examiner writes:
New legislation that jumps the death tax to 55 percent of estates exceeding $1 million threatens 526,421 family farms, of about 25 percent of all farms in America, according to a Senate analysis. “
Even as the left bemoans the loss of small business/family farms they continue to enact legislation that produces the exact result that they claim to abhor .
The Death Tax is the most obscene of all the government wealth confiscation schemes . All of the assets that comprise a decedent ’s estate , whether it be cash savings , stocks/bonds , real estate , jewelry or anything else has already been taxed at least once and likely more than that . For the government to reach into the coffin and take half of the deceased ‘s hard earned belongings is the ultimate indecency .
Illustration By Michael Ramirez