Issues of concern to people who live in the west: property rights, water rights, endangered species, livestock grazing, energy production, wilderness and western agriculture. Plus a few items on western history, western literature and the sport of rodeo... Frank DuBois served as the NM Secretary of Agriculture from 1988 to 2003. DuBois is a former legislative assistant to a U.S. Senator, a Deputy Assistant Secretary of Interior, and is the founder of the DuBois Rodeo Scholarship.
Tuesday, September 18, 2012
Ranchers educate Capitol Hill on devastating estate tax effects
Representatives from the National Cattlemen’s Beef Association (NCBA)
gave an overview to congressional staff members on the devastating
impact of the estate tax on cattlemen and cattlewomen as part of NCBA’s
“Beef 101” educational series. According to Bacus, 97 percent of American farms and ranches are owned
and operated by families, and eliminating the death tax is an important
step in stimulating the nation’s economy. One important fact addressed during today’s presentation is that most
agricultural operations are asset-rich and cash poor, with most of
their value tied up in the value of the land. For asset-rich and
cash-poor family businesses, the appraised value of rural land is
extremely inflated when compared to its agricultural value. NCBA has
made this information available on its website including state-by-state analysis. “Uncertainty in the tax code, and more specifically with the estate
tax, creates an unnecessary burden for farmers and ranchers who are
forced to set aside valuable resources for estate planning instead of
investing in the expansion of their family businesses,” said Bacus.
“Farmers and ranchers are already faced with uncontrollable factors like
the weather and input costs. The tax code shouldn’t be as unpredictable
as the weather.”...more
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