Using mere numbers, it is hard to describe the long-term devastation that will result from Obama’s reelection, but here’s a figure that offers a start: 526,421. That’s the number of family farms that could be destroyed by the death tax:
New legislation that jumps the death tax to 55 percent of estates exceeding $1 million threatens 526,421 family farms, or about 25 percent of all farms in America, according to a Senate analysis.
It’s all part of Obama’s “Eat the Rich” approach to economics, which entails a never-ending increase in taxing and spending. As Senator John Barrasso (R-WY) reports,
Majority Leader Harry Reid and Senate Democrats passed legislation (S.3412) on a party-line vote that allows Washington to take up to 55 percent, a huge increase over today’s top rate of 35 percent, and drop the tax’s exemption from $5.1 million to $1 million. The lower exemption — combined with soaring farm real estate values — could put more than 420,000 additional farm estates at risk from the death tax.
Farm values are largely tied up in non-liquid assets like land, buildings, and livestock. Many farm and ranch families would be forced to sell their assets to satisfy Washington Democrats’ insatiable appetite for tax money. Up to 24 percent of America’s farm and ranch families could be forced to hand over a large chunk of their heritage to the Internal Revenue Service when a family member dies. This would economically devastate rural communities.
So what? Rural communities don’t vote for Democrats anyway. Their power base is welfare-dependent urban voters who don’t have the IQ to wonder where food comes from, so long as someone else pays for it.
Eventually farmers will figure out what is being done to them and stop providing the food. But that will only give the Dems another crisis that they won’t let go to waste. Confiscating the food and letting farmers starve worked fine for Stalin.
Seizing control of healthcare isn’t enough; you don’t have total power until you control food.
On a tip from dan. Cross-posted at Moonbattery.