Well, you have touched on something when you are talking about the death tax, the estate tax. And, you know, when you are talking about something going from having zero death tax this year, which won't ever happen because, you know, there will be a retroactive clause put in somewhere saying that they are never going to let people off the hook, and they are going to say anybody that passed away this year, somehow they will try to bring them back up, and I am sure the lawsuits will begin. But you are right about a couple things right off the bat. You know, family businesses, family farms, I know it's difficult for some folks when you are only looking at a very small percentage of about less than 2 percent of Americans now that make their livelihoods from the farm. And when you go to your local county fairs and you go to look at these implements and the costs, and when you are talking about a $425,000 combine with one head, or you are looking at a couple hundred thousand dollars for a tractor, and you start adding all these pieces of machinery up. People say, well, if you have got a couple million dollars you are rich. Well, most farmers that I know are land rich and cash poor.
Bob Latta: “Well, you have touched on something when you are talking about the death tax, the estate tax. And, you know, when you…”
Editor's note · Context
The speaker discusses the implications of the estate tax on family farms and small businesses.
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