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Farmers Hit Disproportionately by Estate Tax
by Adam Nicholson - No CommentsPosted on August 2nd, 2010 11:59 am
The farming community continues to fight for estate tax relief. American Farm Bureau Federation President Bob Stallman writes:
Estate taxes can hit farm families harder than other small business owners because 84 percent of farm assets are real estate-based.
When estate taxes are due, surviving family members without enough cash on hand may be forced to sell land, buildings or equipment they need to keep their operations going. Rural communities and businesses also suffer when farms and ranches downsize or disappear, and farmland close to urban centers is often lost forever to development when estate taxes force farm families to sell off land to pay the taxes.
AFBI has catalogued the stories of farmers and ranchers such as Doc Dow, Clayton Leverett, and Gary McCall who have personal knowledge of how the estate tax destroys the American dream.
Read the full article here.
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Contact Congress
Have you told the 112th Congress to Repeal the Death Tax?
- ATR & AFBI: End Punitive Tax on Hardworking Hoosiers
Fri, Dec 14, 2012 - Tax Coalition Calls on Tennessee Governor Bill Haslam to Quickly Repeal Inheritance Tax
Fri, Dec 14, 2012 - AFBI: This Bill is a Matter of Survival
Thu, Dec 13, 2012
- A Score of the Death Tax Repeal Permanency Actby Stephen J. Entin, April 2011
- The Cost of Compromise: Impact of the 2011-2012 Estate Tax by Anthony Davies, December 2010
- Life Insurance Cash Cow: An Issue Brief on the Hidden Side of Estate Tax Lobbying by Tim Carney & Dick Patten, November 30, 2010
- Growth Consequences of Estate Tax Reform, by Dr. Douglas Holtz-Eakin and Cameron Smith, American Family Business Foundation, September, 2010
The Death Tax fight will soon be decided in the halls of Congress by your representatives. AFBI is leading the fight for repeal in Washington, but we cannot do it alone.