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Re: Can "Train Mountain" Be Saved ?? Can accumulate in one shot.
Author: Carol L. Voss
Date: 01-28-2011 - 21:10
Dale Stafford Wrote:
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> When my father died about 6 years ago, we
> instantly owed the IRS $37 million in estate taxes
> on our family farm because of the value of the
> land and business---we instantly became one of
> those evil rich people the public loves to hate!!!
> Never mind that my father never made over
> $100,000 a year, and averaged $48,000 per year
> when it was all said and done!! We lost the
> entire farm, save one 1937 John Deere tractor I
> bought from the IRS for twice what it was worth,
> and now all the land is owned by some megga
> corporate farm company. Never mind estate
> planning, congress and the IRS change the rules so
> often there is no way to keep up. That's how you
> can owe so much in one shot. Just make enough
> money for the government to think of you as one of
> the "EVIL RICH" and your toast! Should have died
> in 2010, "Train Mountain" is doomed. As for me,
> drive truck, come home, look at photos of my
> childhood on the farm, knowing full well I'll
> never be able to share the experience with my
> children.
We are California farmers. We understand exactly what you are talking about. Most of the world has no clue about how this works. Nor do we. :-)
C
-------------------------------------------------------
> When my father died about 6 years ago, we
> instantly owed the IRS $37 million in estate taxes
> on our family farm because of the value of the
> land and business---we instantly became one of
> those evil rich people the public loves to hate!!!
> Never mind that my father never made over
> $100,000 a year, and averaged $48,000 per year
> when it was all said and done!! We lost the
> entire farm, save one 1937 John Deere tractor I
> bought from the IRS for twice what it was worth,
> and now all the land is owned by some megga
> corporate farm company. Never mind estate
> planning, congress and the IRS change the rules so
> often there is no way to keep up. That's how you
> can owe so much in one shot. Just make enough
> money for the government to think of you as one of
> the "EVIL RICH" and your toast! Should have died
> in 2010, "Train Mountain" is doomed. As for me,
> drive truck, come home, look at photos of my
> childhood on the farm, knowing full well I'll
> never be able to share the experience with my
> children.
We are California farmers. We understand exactly what you are talking about. Most of the world has no clue about how this works. Nor do we. :-)
C
