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The Impossible Dream

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Billionaires for Bush mounts a search for the mythical family farmer affected by the estate tax. If you can find one — and a pony — you’ll get a free gift bag, so you lucky duckies should hop to it.

I’m also glad that they reminded us about Giuliani canceling a press conference because the family wasn’t wealthy enough to be a Potemkin front for the upper-upper class tax cut he was advocating…

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  • washerdreyer

    It doesn’t meet all of the qualifications at the link, but do a find on page for “farm” here.

  • Tom

    I have to laugh at the family in that Giuliani story, who had recently donated money to his campaign, under the delusion that he actually cared about people like them.

  • washerdreyer’s link is someone declaring s/he lost their farm due to the inheritance tax.
    By the way, I’m 22, single, 6′ 5″, have the build of Brett Favre, look like Cary Grant, and make $100,000/day in interest alone.
    Since the first $600-750K of an estate has been exempt from any taxation for over a decade, the only way to lose a farm is to treat it as the marginal part of your inheritance, providing a lower utility than cash (that can be used to offset taxes) or selling some portion of the farmland (in the case of a farm with more than $750K worth of land) and maintaining the rest.
    And all of the above assumes one is clever enough to run a farm, but stupid enough not to do some estate planning.
    So there is no possibility that one could “lose” a farm due to the inheritance tax–you have to select not to farm because you don’t think it will be useful.
    Otoh, using Eminent Domain—even before Kelo—to take a family farm away to build, say, The Stadium that A-Rod Named does deprive a family of its farm.
    So, as has often been observed, more family farms have been taken away to make GWB rich than have been lost involuntarily due to the estate tax.

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