2020 Election

[Brownshoe]

(11-06-2020, 07:34 PM)fredtoast Wrote: Yes they are.  If you own $5 million plus in farm land you are a multimillionaire not matter what your income is.

That is like saying a person who owns a $5 million dollar home but choses to make pottery and only earns $100 a week.  Is he no longer a millionaire just because he has no income?  


Banks don't just make up farm values.  they are based on professional appraisals that use values of land actually SOLD.  That's right, people and companies are actually BUYING farmland and making money off of it.
Like I said before If a person can't make money after getting a $6 million dollar farm for just $4ooK in taxes then he does not deserve to have a farm.

No one pays estate tax on the land multiple times.  They only pay once when they GET IT FOR FREE.
People who don't have millionaire parents and  have to work and earn $5 million to buy a farm have to pay taxes on the $5 million they earn.  So why shouldn't the kids of millionaires have to pay taxes when they get a $5 million farm FOR FREE?

They will have to have assets worth over $5 million before they pay any estate tax.  So they are VERY rich.  If they are "cash poor" that is because they choose to be.  Do you think they should get food stamps if they own a $5 million farm but can't make any money?

I'll just write this up as you being very ignorant on this topic, because you clearly don't know what you're talking about.