Veteran Advisor
Posts: 6,101
Registered: ‎05-13-2010

Long Term Planning

We are enjoying the boom years in farming and this creates some nice problems, namely estate planning . Wouldn't it be nice if the politicians could not keep changing the rules so that the small business owner could make plans for decades without worrying about what a new government would do?


I am hoping that the threat of a communist takeover of America, through the ballot boxes, has created enough stress and worry that we will elect people of a mindset that will help to infuse stability back into our system....if the size of an estate that can pass without taxes is going to stay at $5million per spouse, a person can plan for this and not worry about elaborate trusts or gifting. Right now, it is scheduled to drop to $1million and this will create unbelievable headaches for business owners trying to keep their business going, in case of the death event.


If we can reach a national consensus that the person that works for the money is always entitled to keep more than the government takes, then we can plan for this event, too. Playing class envy makes for good voter turnout but really doesn't serve the long term interests of a nation very well. George Washington, the richest landowner in Virginia and one of the wealthiest men in the USA at the time of our nations births would be treated poorly in today's acid atmosphere where making money seems to be a recipe for garnering contempt.


Business loves stability, if we can show the world that America is stable and that the entitlements in America are based on your entitlement to enjoy the fruits of your labors, we can thrive in the coming decades. My fervant hope is that the last four years are the wakeup call that America needed. Hopefully in 2013 we will have an overhaul of the tax code that will stand up for decades. It would be nice to be able to do long term planning.

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