Posted on 08/18/2011 3:57:30 AM PDT by tobyhill
The final stop on President Obama's three-state Midwest bus tour was at the Country Corner Farm Market in the small town of Alpha, Illinois. The president was roughly an hour behind schedule due mostly to a visit with the Galesburg High School football team, and although the crowd showed some signs of fatigue from waiting in the hot sun, most left the event saying it was worth the wait.
Although his opening remarks didn't change too much, the president did field one interesting question about the future of the estate tax that is worth looking at. I think it's the only question the president got on this topic the whole trip. Here's the exchange as per a transcript provided by the White House:
QUESTION: Thank you, Mr. President, for being here today in Henry County. My name is Karen Urich (ph). Im a multigenerational farmer, member of the Henry County Board and Henry County Farm Bureau. My question that I have today is I have a concern over estate taxes.
In 2013, if the Senate and the Congress fails to act, we will have our estate taxes go back to the 2001 level. We have family farms that are experiencing having to sell their land in order to pay the property taxes. And I was wondering what you see for the future of the estate tax. Thank you.
THE PRESIDENT: Well, theres no reason why we have to go all the way back to the 2001 level.
(Excerpt) Read more at whitehouse.blogs.cnn.com ...
It amazes me that farmers haven’t sat around and figured some method of creating a “trust” or some joint-ownership deal...and just skip over the estate dilemma. We’ve got a thousand various holes for business owners get around problems...farmers ought to have the same potential.
I wonder how much the “Estate Tax” confiscated from the Kennedy Estate when Rose Kennedy died?
Rob the living, rob the dead. A nation of parasites is headed for collapse. Tax the rich or thou shall not covet other people’s wealth. The fact that covetousness, envy, jealousy and theft are about all you need to know about this man.
..he can take the peas and shove em in his ears...if there’s enuff
how much land is govt buying up in the areas he has been visiting
This Warren Buffett obsession of obama's is just plain icky.
Most importantly, buffett is a grown man if he wants to give to the gov't, fine if he wants to give to his family, fine........none of this requires congress to make the decision for him.
The same damn bunch of men and women who can't seem to pay their taxes want to govern yours, this is going to have to stop, damn grave robbers.
We can expect Moochelle to d the black gigs after their vacation.
The higher Estate Tax the easier and more people buy Life Insurance to pay the death Tax.
‘I wonder how much the âEstate Taxâ confiscated from the Kennedy Estate when Rose Kennedy died?’
IIRC, they moved her to Fla weeks before she died making
Her a ‘resident’ of Fla, therefore no estate tax.
I could be wrong on this, but I believe they paid nothing.
Obviously a planted question....You know darn well he doesn’t know the rate/exemption in 2001 and the general de-escalation since then.
I'm sure this overwhelming "invasion" was calculated to set townspeople on their heels, keeping them from gathering any critical mass of resistance that might dare challenge the Messiah.
For any advance team to have found these teensy villages appropriate to visit, they surely were looking very hard.
HF
Translation, we are going 90% of the way back to 2001 levels
The family claimed she was a resident of Florida at the time of her death even though she hadn't set foot in that state for at least a decade.
Ol' 0bama has that nail pounding, lid sealing thing down pat doesn't he?
There’s only one thing you can’t escape now, and that’s death. Everything that you have worked for, and wanted to pass down to your children, will be confiscated by the government to settle the death tax bill. Look for the government to go after trust funds, living wills, and other loopholes in the near future. My advice, if you think it’s your time to go, liquidate all of your assets, distribute it to your children under the table as you see fit, and go out with the satisfaction of knowing that you went out giving the feds the middle finger.
Why should the government be allowed to double and triple tax our income and assets?
The death tax is an absurd tax that steals from us and then spent it in a wasteful manner.
Why is the government entitled to 55% of anybody’s net worth (after it has already been taxed as income)?
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