So Biden is considering for USA farmers a 39% tax on Farmland when transfered

[bucket]

If they keep this crap up they will have more than BLM trouble. I can't see farmers letting the government take 40% of there wealth without a fight. Unfortunately most farmers that it will affect immediately are 60 and older. I know I didn't"t work all my life to have some blackface, sparkle sock, trust fund prick take 40% of what three generations took to build,

Really ????? many farmers have lost part of their income without mandatory sales reporting and it is struggle to get farmers on board

[jazz]

Really ????? many farmers have lost part of their income without mandatory sales reporting and it is struggle to get farmers on board

There are not enough farmers to mount a resistance. These farm heavy states would have to secede the union. Not sure how that happens.

The solution has to be in these corporate structures. Gates bought all that land through a LLC. I dont think he or bezos would do that if they had to give 40% to the govt.

[GDR]

As much as a policy like that will hurt individual generational farms it may benefit our industry as a whole. Being born outside a farm family, or being younger than an older sibling that takes over are barriers to entry. The current path just creates bigger and bigger farms with less and less people. No doubt land would be freed up at the end of a career, or a portion would need to be sold at inheritance time.

[bucket]

As much as a policy like that will hurt individual generational farms it may benefit our industry as a whole. Being born outside a farm family, or being younger than an older sibling that takes over are barriers to entry. The current path just creates bigger and bigger farms with less and less people. No doubt land would be freed up at the end of a career, or a portion would need to be sold at inheritance time.

Its a no win situation to tax generational farms into smaller farms....Bill Gates and Bezos are waiting.

[jazz]

As much as a policy like that will hurt individual generational farms it may benefit our industry as a whole. Being born outside a farm family, or being younger than an older sibling that takes over are barriers to entry. The current path just creates bigger and bigger farms with less and less people. No doubt land would be freed up at the end of a career, or a portion would need to be sold at inheritance time.

Every strategy tried in farming has led to less farmers. This will be no different.

Farmers will just borrow against equity to pay this bill when it comes due. Govts will get their pound of flesh and bankers will get some new loans.

You would be crazy to sell land to go to cash even if its millions. Govt cant devalue farmland like cash unless interest rates go to 20% again which is unlikely.

[Herc]

I thought Biden’s mom told him to put yourself in someone else’s shoes. Pretty sure not one farmer in work boots would want a transfer tax on farmland....Just sayin....

[seldomseen]

We need a new country. Take the blue areas in Canada and the red areas in the US.and combine them.
Let the red areas here and the blue areas there and they can build their socialist utopia without us,

[ajl]

When the only thing your economy produces is inflation, it should not be surprising that capital gains taxes, which are a tax on inflation, is in focus. If interest rates were set in the market place then those $500K quarters of land would become $150K quarters of land and the capital gains issue is moot. I think there should be no capital gains tax, but there should also be a free enterprise economy in all facets especially interest rates, then capital gains would be rare to start out with. Besides inflation is already a savings tax to begin with.

[LEP]

This type of tax in inevitable. At some point they will tax unrealized gains where ever they occur. Your house, your farm, stocks. There will never be enough taxes to pay the interest on the government's debt let alone pay it off. Inflation is the government's hope of right sizing the debt.

It will be a handy little tax that makes you give a chunk of that inflation to the government every year.

So having a government job and pension and renting an apartment will be the future path to prosperity.

[jazz]

This type of tax in inevitable. At some point they will tax unrealized gains where ever they occur. Your house, your farm, stocks. There will never be enough taxes to pay the interest on the government's debt let alone pay it off. Inflation is the government's hope of right sizing the debt.

Maybe something else is afoot. Maybe we are at peak gains. Maybe they need to tap those gains right now because more gains going forward will be much more muted, perhaps deflationary even.

I mean how much higher can things go. Homes are already at the limit of affordability for a family. Land here has gone up a factor of 3-5x in the past 20 yrs with pretty flat crop prices. Equity market is a stimulus fueled fantasy.