Quote:
Originally Posted by Peter_Spaeth
OK. But not clear to me why those people would object more to estate taxes or have any more political clout than the countless other wealthy people in the state.
|
Lots of people object to the retaxing of wealth in inheritance, but the problem with farms etc. is that they typically are worth a lot more than the cash flow generated and in death a high tax on estate transfer would force many/most to sell to pay the tax. Not a popular option for a long-time family business, and one that is perceived as a societal good.