Re: The end of small businesses, farms, and family homes.
The Death tax is set to rise. Obama wants it to be higher in % and lower the bar to a million dollars.
Let us see what this does to farmers: http://www.foxnews.com/politics/2012/11/16/ranchers-farmers-brace-for-death-tax-impact/?intcmp=trending
Now in trucking, something I know well.... 5 trucks and trailers is hardly a huge company. Especially if, like many of the smaller companies, a portion of it is family run (xyz and sons). Yet this company can pass $1,000,000 easily.
There are cities where the median price of a home can easily reach 700k. Add in a car, some antiques, what's left of retirement accounts, and this can pass a million easily.
The Death Tax is supposedly to affect the rich, but all to often it guts the people who scraped up their lives to get a modest life style which got rated higher.
When you are earning (profit) $10,000 to $15,000 a truck and it is a family affair then 5 trucks is not proof of a super rich business. It is a very modest business with a lot of wealth but not a lot of income. A family of 3 who scrape up for the dad's business and get 5 trucks should not be forced to sell 2 trucks upon his death to pay the death taxes.
If you are worried about billionaires passing wealth then make it that standard. Don't hurt a family like that farmer in the website.
Kemp currently not being responded to until he makes CONCISE posts.
Avogardo and Noir ignored by me for life so people know why I do not respond to them. (Informational)