Tag Archive: Double Taxation


 

Coming 55% Death Tax To Threaten Over Half-Million Family Farms

 

 

 

 

 

 

 

 ” 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

 

 

If you doubt that Obama and the dems really believe that you don’t deserve to keep what you and your family have earned then read this .

  “Senate Democrats, meanwhile, have prepared a broad tax-plan package that would return the
estate tax to the 2009 levels of a 45 percent rate for estates, with a $3.5 million exemption, while extending Bush-era rates on family income up
to $250,000. ”

   That’s right … The left figures that after a lifetime of sweat , toil and sacrifice and being heavily taxed on every dollar you make , that when you die your heirs are only entitled to just over half of what you’ve built up .

   You read that correctly … You need to give the state 45% of everything that you have already paid taxes on for the privilege of dying in America .

   The hypocrisy of the crocodile tears from progressives about the disappearance of the family farm is thus explained .