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Advisor

Generous tax cuts for your neighbors

Well, granted, your average multi-thousand rental crop farmer probably won't have any tax liability this year and maybe not for several years more but he is the guy who is in a position to reap benefits should the thing turn around and deliver a couple good years*.  Some of the large livestock operations would most definitely benefit.

 

You are also delivering tax free inheritance beyond the current $10.5M exclusion to your best heeled neighbors, whose heirs will no doubt be so appreciative that they won't use that money to put any competitive pressure on your descendants.

 

 

*if a farm of more modest scale uses the tax strategy of managing taxes into the top of the 10 or 15% bracket and then blowing the top out of the FICA bracket every few years, you might to some degree too.

3 Replies
Advisor

carried interest

still in the tax proposal, regardless what Don the Con told you.

Senior Contributor

Re: carried interest

Is your interest income redistribution?  Making sure successful people can't pass on their success?

Advisor

Re: carried interest

Adam Smith, for one, believed that a permanent rentier class was a threat to a well functioning free market.

 

Of course he also believed that rich people would cheat and game the system as much as they could. But he also thought the gubmint was the only remedy for that.

 

The patron saint of the modern GOP isn't Smith, it is Ayn Rand- an anti-christian sociopath.