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| Estate Tax is death sentence to U.S. family farms, ranches |
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Like many of us living on farms and ranches or in rural communities, I often remain silent on important issues and put trust in my elected representatives to do what’s right.
Unfortunately, that doesn’t always happen. I am taking the time this very second to vigorously voice my stance on an important issue that is a very sensitive and personal one for me. The cleverly named, estate tax, better referred to as the death tax, could be the death of my family’s ranch if Congress fails to uphold its obligation to U.S. taxpayers to do what is in the best interest of all of us.
Over the years through various changes in family ownership due to unfortunate circumstances and deaths, the property has been reduced from 4,800 acres to 2,700 acres. As a result, a large portion of my ranch and the vibrant habitat for wildlife has been displaced by vacation properties. My husband and his father wanted this ranch to remain intact and often discussed it with me. I honestly don’t know how this is going to happen if Congress allows the death tax debate to continue as it has for the last 15 years.
Congress only has roughly 30 legislative days left until this tax reverts back to its pre-2001 levels. If the men and women we put in Washington don’t take action before the end of this year, a death sentence consisting of a tax rate of 55 percent will be imposed on farm/ranch estates and small businesses worth a mere $1 million. When you consider land, equipment and increasing property values, most ranches and small businesses will easily exceed the million-dollar threshold.
According to USDA, farms and ranches are five to 20 times more likely to incur death taxes than other estates. I have written the National Cattlemen’s Beef Assoc. and have talked to their staff on the phone. NCBA agrees that it is going to take a strong support from us – owners of small businesses and farms/ranches – to get Congress moving. I am calling my leaders in Congress. Will you do the same?
Tell Congress to stand by their commitment of job creation and economic growth by killing this tax that prevents growth of family owned businesses.
I have spent many sleepless nights worrying about the future of this ranch. It is heart wrenching. Blood, sweat and tears – the very essence of a country built on capitalism and free enterprise – of many generations have been shed on this farm.
Please explain how I tell my children, member of Congress, that because of your inaction this farm, this open space is just a memory. I encourage all of you to help preserve rural America by calling your elected leaders now. There is not much time left before a legal mass homicide occurs in America’s Heartland.
Amanda Woodbury
JBGardneRanch, Fairplay, Colo. |
| 7/21/2010 |
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