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    executive overcompensation..., 2005-04-13 11:55:07 | Main | small favors..., 2005-04-14 08:22:06

    saving the farm after you bought it:

    it's Repeal the Death Estate Aristocracy Tax Day in the House, and so there's a bunch of the usual bullshit from the GOP and not a small number of corporate Democrats about saving family farms, etc. Interestingly the National Family Farm Coalition don't have a thing to say about it. As far as I can tell the polling hasn't even been done to find out if farmers care about it one way or the other. The 'save the farm' bit is nothing more than an astro-turfing campaign by big agribusiness, which is the enemy of pretty much anything that breaths, creating this myth about the government breaking up the family farm and leaving destitute paupers behind in its wake. It just doesn't happen, and when the private assets of some business mogul is affected by the simplified tax-saving application of a capital gains tax and his heirs are left with a pittance in the millions of dollars, well cry me a river.

    What's most astonishing is that, if it were actually possible to implement, the carry-over basis capital gains tax that will apply to untaxed inherited assets as is specified in this bill would actually cripple small businesses and farms, unlike the present law. If these bozos had their way they'd actually be passing a bill that would destroy family farms, under the hubris of saving them: how typical.


:: posted by buermann @ 2005-04-13 12:31:26 CST | link





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