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Nw Iowa | You are correct Maine, the problem is looking ahead, sometimes it looks like the more you work, you just have that much bigger target on your back. The government will blame it on anything that buys votes and common theme is take it from the rich which trickles down to, take it from the middle class. Farmers generally have some pretty decent wealth but most of it is tied into assets that don’t generate type of wealth that say a successful small company of same value that probably generates 10 to 20% a year in profits vs the farm that with inflation factor probably averages closer to 4-5%. So the politicians look at the value of the asset and see tax money. Let’s face it, if stepped up basis goes out the window, how many people really want to buy a farm with after tax dollars and than have it taxed again on inflation on their death if return doesn’t match other investments? | |
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US Debt WOW
