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Politics : Politics for Pros- moderated
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To: unclewest who wrote (2450)6/21/2003 12:50:27 AM
From: D. Long   of 793931
 
I have to laugh at those who claim it's only the big farmers who get shafted by the estate tax. My mother's side of the family has an ancestral farm, about 150 acres, and the taxes the family will have to pay when it is passed to the next generation is enormous. My aunt is trying to keep the deeds for my cousin. I've told my parents she can have it all, her and my other cousin. I'm not paying the estate taxes and the property taxes that will come due on it. It'll break them. And they can't sell the farm. Not only is it forbidden in my great grandfather's will to sell outside the family, but the farm has been maintained by federal and state grants meant to keep old farmland from being sold and developed. If that land is sold, the family has to pay back ALL that grant money. Tens of thousands of dollars. Fuggetaboutit.

Derek
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