Politics Fun Farm Facts
Check out this rap from the Pro-920 website (I-920 is the initiative to repeal the estate tax)
Even though the legislation passed in Olympia purports to exempt family-owned farms, some experts looking at the bills say it may not. Often the family assets are tied up in machinery, equipment, buildings, inventory and property. In today’s world, it doesn’t take too much to hit the $2 million threshold when… a combine on the Palouse goes for a couple hundred thousand.
The folks who put up the pro-920 website (the Association of Washington Business & the National Federation of Independent Businesses) should probably take a look at another website—namely the Washington state Dept. of Revenue website, which says explicitly that family farms and machinery are exempt from the estate tax.
The only requirement to exempt a family farm is that the farm actually be a family farm business—the requirement being: “The farm must comprise at least 50 percent of the total estate’s adjusted value.” In other words, it’s designed to exempt working family farmers.
Again: Of the deaths that are anticipated in 2006, less than 250 estates will pay any estate taxes.
I'll vote for 920 because I don't want to pay any more taxes. It's entirely possible I may be rich one day, and the death tax will really hurt. I want everything, but I don't want to pay for anything. That's why I like Tim Eyeman.
btw, nothing is ever my fault, and I am unable to take responsibility for my failings. but I think others should have to pull themselves up like I did. I'm a self-made man, after all. I did it all on my own.