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Politics : PRESIDENT GEORGE W. BUSH
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To: JEB who wrote (264214)6/15/2002 6:05:08 PM
From: Ish  Read Replies (1) of 769667
 
I've seen family farms lost to death taxes. The equipment and house eat up the deductible. Then let's say they value 500 acres @ $3,000 per, or $1,500,000. 40% taxes and junior has to borrow $600,000 large to inherit the farm that his father has worked for 50 years and the boy started hoeing beans when he was 8. He's got a payment of $48,000 per year. He clears $24,000 the first year, the bank owns the farm.
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