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Elimination of stepped up basis
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JRCS Farms
Posted 8/20/2024 14:36 (#10859153 - in reply to #10858924)
Subject: RE: Elimination of stepped up basis


North Central Indiana
This is a poor take. I’m sorry, I generally like and agree with your posts but this one I don’t agree with. Inherited businesses, in this case farmland, don’t just fall down to someone. My dad didn’t fall into the farm ground in his family. I won’t fall into it either. He had to contribute to the business to be the heir. The other 4 siblings that left the farm got basically nothing. And likewise in my case the other 9 cousins and 2 siblings that left are also on the short end of the stick in the will and succession plan. Why? Because I’ve contributed, I made sacrifices that others didn’t to be in this position today. Everyone should scream loud about government theft. There is no incentive to make a difference or do something in life if the government is going to repeatedly take and take and take forever. Why should I run a business? Why not collect a check from an employer and blow my money on toys so there’s nothing to take? That’s what this kind of policy would encourage. And I’m sorry but look at the people they use this rhetoric to court. Generally speaking, which I realize is dangerous, this type of policy gets those who feel like they haven’t had a fair shot fired up, they want this. But this doesn’t give them a better shot, it just hurts those that have been successful. The people already receiving government assistance don’t need a say in my business. I’m sorry but it’s true, financial illiteracy doesn’t mean you have the right to tax successful endeavors or people more.
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