So, here’s a story: imagine your family has run a farm for generations, on the same land. You don’t make a lot of profit off of farming; your family isn’t “rich” – except that on paper, your land is “worth” a certain, large, amount of money. Now enter Washington: greedy for more tax revenue, they decree a drastic increase in the death tax – a form of taxation even COMMUNIST CHINA has gotten rid of – so that when Daddy dies, his kids are going to have to sell off major chunks of the farm, if not the whole thing, to pay the taxman. Rinse and repeat a couple times, and this family will be left with nothing – they won’t be able to make a living and will be forced to move.
Who do you think is going to end up with that land? Another family farm? Noooo. A giant multinational corporation, that’s who. What farming family is going to have $13 million on hand to pay the IRS? They’re not rich; they can’t afford that. But big agribusiness sure can!
Estate taxes force farming families to sell out to agricorps. Washington’s estate taxes are a way for greedy, corrupt politicians to ensure that their enormous corporation buddies can grab ever more control of the nation’s food supply. Does that sound like a good idea to anyone?