Political Quotes

“My friend from Iowa is so correct. I actually have one of my constituents who has got a lot of farmland in east Texas, and he told me a couple of years ago, You guys have got to do something about the death tax. He said, My kids are all grown. They're adults. They went and hired their own accountant, and they all talked to him. The accountant explained that, the way the law is set up, if I die before the end of 2010, there is no death tax at all. He said, you know, We're land rich and cash poor. We don't have a lot of cash. It's in land. The land keeps us going. We make money off of it; but if we have to pay the tax, we're going to have to mortgage the land, or we're going to have to sell the land. We can't keep it if I don't die in 2010. He said, Now, my kids are kind of smiling and kidding about it, but I'm starting to get a little nervous because they've said, You know, Dad, the accountant says, if you don't die before the end of the day on December 31 of 2010, we're going to lose 55 percent of our land. So we're kind of nervous about it, and we're kind of wanting to know where you're going to be during December in case we have to get with you. You know, he said, they're kind of kidding and kind of laughing, but I'm starting to get worried. I saw him just a few weeks ago. I asked, Are you still worried? He said, You haven't fixed the law. You bet I'm worried. Yes, there's a $1 million exemption, but it's still a 55 percent tax. It is outrageous.…”