What should estate tax levels be?
New legislation that jumps the death tax to 55% of estates exceeding $1 million threatens 526,421 family farms, or about 25% of all farms in America, according to an analysis conducted by the Senate Republican Policy Committee. You can read more here.
And be sure to vote in our online poll at beefmagazine.com. This week's poll asks the question: "What should the estate tax level be?" Of more than 225 responses, the vast majority (73%) favor killing the tax, while 19% favor a $5-million individual exemption and 35% tax rate. Another 5% prefer a $3.5-million exemption and 45% rate, indexed to inflation; and 2% favor a $1-million individual exemption and 55% tax rate.You can read all the comments to the question here.