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Cattlemen Shouldn't Be In The Death-Tax Fight
Like Keith Evans and Brent Langman ("Fighting The Death Tax Isn't A Cattleman's Fight," May 12 BEEF Cow-Calf Weekly), I don't think cattlemen should be fighting to kill the death tax. Current tax laws allow for approximately a $1-million, estate-tax exemption upon death. We should be fighting to increase the exemption up to $5 million, perhaps even $10 million. I know this would still impact our largest farms and ranches, but now we may be getting into more "corporate operations."
I don't like paying taxes any more than anyone else, but if my descendants can't make a living on $5-10 million worth of land and equipment, they probably haven't earned the right and privilege to keep it. Mike Potter Oklahoma cattleman
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