posted on Nov, 17 2012 @ 12:59 PM
I know people are going to say, "Oh, it's FOXNews...", but this IS going on and nothing good can come from it.
Two quick paragraphs from the article.
Many Democrats argue the tax promotes equality among classes, especially in capital gains -- or stocks passed from one generation to another. Since
stocks are only taxed when they are sold, the government can't profit from long-term investments without the estate tax.
"Very large portions of very wealthy estates are tied up in stocks and they have never been taxed," said Lester. "The estate tax is one of the ways
we make sure the wealthy pay a little bit more as an overall share of their wealth and income compared to low-income individuals."
This is right out of "Atlas Shrugged". Since when is the Government in the business of "Making a Profit?"
Maybe since they decided to spend us, the nation, into debt...ya think?
My family on my Father’s side has been farming in Wisconsin for generations. Farming is not a cheap no brainer business. Buying equipment and
maintaining is outrageously expensive, and then there is the weather factor and the shrinking family as well to run the farm.
When I was 5 years old, the farm was 200+ acres that also had forest on it so it wasn’t all tillable land.
Because of taxes and operating costs and weather, it has been sold piecemeal down to 40 acres. It’s still being operated by my cousin, but under the
upcoming tax laws, he doubts his sons will be able to take it over.
And another American farm will bite the dust and go to seed.
I thought that this maybe should go into a different forum, but decided upon Political Madness since this is madness thinking that by sweeping a broad
tax brush will just hurt the big businesses. It hurts the little guy as well.