I like the west wing, it is a very well written show. I almost completely disagree with their politics on that show at times, but the fun aspects of it make up for that. And when they have a republican character do anything important on the show they are usually smart and say stuff that I would say about why I think more conservatively in the area of politics.
The one I liked the other day went like this:
“Why are you a republican?”
“I hate poor people,….No seriously, I believe that big government limits our freedoms to govern ourselves, and this country was founded on the ideals of personal freedom.”
Or something like that. The point was big government = not so good, which is generally what I think in a very shortened form.
I also like the way they are talking about this estate tax issue. I don’t know if it has come up in a long time or anything, but the kind of estate tax they are talking about could potentially be very bad for farmers.
An estate tax, as they have laid out in the show, is saying if you inherit an estate / land valued at over a million dollars (or some big number) you have to pay a pretty damned high tax on it. In the show it is something like 65 cents on the dollar.
Normally I wouldn’t be bugged by this kind of thing, cuz it mostly affects very rich people, but then I got to thinking. That kind of a tax would dick famers really hard. I’m willing to bet the assets including land and the farm equipment that Dirks dad has would tip well over a million dollars in value. Hell, the combine is a quarter million dollar machine. Does that count as part of an estate?
Well, it is only fiction, and I haven’t bothered to look up any facts on real laws like this, but the issue struck me as interesting even if it is a fictitious one. Especially considering the Democratic parties official name has the words “Labor” and “farmer” in it, but usually does very little to help either one anymore.
Odd the party that created the middle class misses the boat so often with middle-class economic values of today. I think I will ponder this more in my head as I find it interesting. I suspose it has more to do w/ the secularization of the values of the democratic party than anyone would care to admit, but I’m not certain of theat. Again, I’ll have to think on it…but at any rate, the show has made me think about some things that I may not have otherwise, and the writing is very funny at times, and appropriately serious at others. And after watching a while and getting involved in the characters I don’t even care that it is way way way overly idealized….hell, I would have voted for the guy on that show.
rschmit says
In case you haven’t heard, the estate tax was modified recently and will raise the minimum taxable estate size to 2.5 million, such that it will only affect an estimated 250 estates in the country. Don’t think there are too many farmers in that number. And this was passed by Democrats, not Republicans. Just some food for thought.
rschmit says
Also, House Republicans voted to eliminate the tax in 2010, but it is seen as being highly unlikely of making quorum in the Senate.
divisionbyzero1 says
I would probably vote for dems if only they had souls.
Now… where’d I put my flame proof suit.
bigcat2k says
cool.
Like I said, I didn’t really look into it at all, the TV show just made me think about the idea.
2.5 million in some areas could possiblely effect some farmers, but I bet it would be limited to tobacco farms or something that is a really big cash crop.
Plus, in the show they were talking about effecting 4500 families and the limit being at 1 million dollars.
Thanks for the info.
I wonder how much money that amounts to in tax revenue.
dreum says
Yeah it is a concern in my family, though more for my grandma who owns more land than my dad. The combine would be part of the estate btw because it includes all the assets. This kinda thing is being work around by giving part of the estate away every year. This helps keep the size of it under the minimum.
bigcat2k says
Oh yeah, and how does it work since your Dads farm is a company. Is that a way around it since it is Reum Brothers Inc., and not Roger Reum’s Farm?
dreum says
I’d have to ask. I’m not quite sure how it works
rschmit says
according to the article I read, 185 million, all earmarked for education.
bigcat2k says
Wow, those are some rich-ass 250 families.
Do you have any links to those articles, or are they too old now.
I could do it myself, but I’m being lazy.
Isn’t it odd that Dirks Grandma is still worried about it even though it only effects 250 families? I know she has money, but not 250 families giving 185 million dollars kind of money.
bigcat2k says
Hahahaa,
Jeff is not arguing with anyone for a while, so your probably OK.
Plus everyone knows your joking.
Seriously though, check out the west wing if you get a chance. Keep a really open mind about the politics (or just decide to not let it bother you), and then you can watch it and enjoy it for quality writing, and good acting.
shimmin says
Seriously though, why should dead people have a say in the distribution of wealth? Having quit the world, they are no longer governed by the statutes of the living, so why should the living be governed by the statutes of the dead? To me, inheritance seems a lot like granting the dead representation without taxation.
1x says
“A good man leaves an inheritance for his children’s children” (Proverbs 13:22)
dreum says
I haven’t talked to her in a while about it. It may not concern her at all.
shimmin says
Yet …
“A man may do his work with wisdom, knowledge, and skill, and then he must leave all he owns to someone who has not worked for it. This too is meaningless and a great misfortune.”
1x says
Ahh, yes… like when the government takes it all through taxes? 🙂
bigcat2k says
LOL, I just realized that this article you liked to is for Washington State, not Washington DC, or any federal programs.
So at 2 million dollars you would probably affect a lot more than 250 families nationally.
rschmit says
whoa, I totally didn’t notice that either. I’d like to do some estimation here, but it would take too long and I’m too lazy.
And so we’re clear, I always figured that most inheritance and estate tax issues should be taken care of in any capitol gains taxes that we have to pay, on an individual basis, as opposed to a separate tax for both.