Government making it impossible to pass on assets to your children!

WASHINGTON (PNN) - November 20, 2012 - If you have a farm or a small business, would you like to pass it on to your children when you die? Well, unless Congress does something, it is going to become much, much harder to do that starting next year.

Right now, there is a 5 million dollar estate tax exemption and anything above that is taxed at 35%. But on January 1st, the exemption will go down to 1 million dollars and the tax rate will go up to 55%. A lot of liberals are very excited about this, because they believe that the government will be soaking wealthy people like Warren Buffett and Bill Gates. But the truth is that a lot of farms, ranches and small businesses will be absolutely devastated by this change in the tax law.

There are many farmers and ranchers out there today that do not make much money but are sitting on tracts of land that are worth millions of dollars. According to the American Farm Bureau, approximately 97% of all farms and ranches in the Fascist Police States of Amerika would be subject to the estate tax if the exemption was reduced to just a million dollars. That means that the children of these farmers and ranchers would be faced with a very cruel choice when it is time to inherit these farms and ranches. Either they come up with enough money to pay the government about half of what the farm or ranch is worth, or they sell the farm or ranch that may have been in their family for generations. Needless to say, most farm and ranch families do not have that kind of cash lying around. Most of them are just barely making it from year to year. So this change in the tax law is going to greatly accelerate the death of the family farm in Amerika.

This is also going to devastate many family-owned small businesses. Many small businesses don't make much money, but they have buildings or land or assets worth millions of dollars. Children that may have wanted to continue the family legacy will be forced to sell because of the massive tax bill that they get from Uncle Sam. This is an insidious cruelty, and it shows just how broken our system has become.

The desire to leave the wealth that you have worked so hard to accumulate all your life to your children is something that is common to virtually all human societies. We want to know that future generations will have adequate resources.

It is simply immoral for the federal government to swoop in and tax farms, ranches and small businesses that were intended to be passed down from parents to their children at a 55% tax rate.

A lot of the people that are going to be affected by this change are not "wealthy" at all. Every single year, thousands upon thousands of farms, ranches and small businesses are going to be lost to the federal tax monster.

It is almost as if the federal government does not want income-producing assets to remain in the hands of the "little guy".

What in the world are we supposed to do?

It isn't as if all of those farmers and ranchers can go off to the big cities and find good jobs.

The cold, hard truth is that our system does not work for average Amerikans any longer. Those that roll out of bed every morning, work hard and never complain always seem to get the short end of the stick.

The people that are the backbone of Amerika are the ones on which the government is always hardest.

Unfortunately, we have gotten to a point where the government is searching for more "revenue" from anywhere it can because it desperately needs more money. Fascist Police States of Amerika government finances are a complete and total mess and we are drowning in the biggest ocean of debt the world has ever seen.

We are more than $16 trillion in debt and there are more than 100 million Amerikans that are enrolled in at least one welfare program.

Someone has to pay for all this.

Middle class Amerikans are already hit with dozens of different taxes each year, and you can be certain that our politicians will continue to invent ways to extract even more "revenue" out of us.

Of course they will never stop their wild spending. Despite all the negotiations that have taken place over the past couple of years, our spending problems just continue to grow. For example, the federal budget deficit for the month of October was $120 billion, which was more than 20% larger than the federal budget deficit for October 2011.

So what is the solution?

Well, Treasury Secretary Timothy Geithner now says that he wants to eliminate the debt ceiling entirely. He says that we should just have no limit and that the federal government should just be able to go into debt as much as it wants.

In the end, all of this debt is going to absolutely crush us. We have literally destroyed the future of Amerika, and yet most of the country still seems clueless about all of this. The blind are leading the blind, and we are headed straight for complete and utter disaster.

One day, when people look back on this period in Amerikan history, what do you think they are going to say about us?