death taxes and the food supply

[blue80]

Good to keep abreast of upcoming policy changes coming us as laws are continually changing.
More about the “food safety bill” (which should be used as compost) and inheritance tax issues affecting what we’ve worked so hard for.

But I’m just one of those Canadians wondering when the people down south are going to take their country back….

http://whiskeyandgunpowder.com/death-taxes-and-the-food-supply/?CFID=1018619&CFTOKEN=c669dd1e52a66ffc-96C7563B-1851-8FFD-EC04D5C8FEE3D666

[dominiquer60]

Food Safety Bill is a tough one to fight, it seems inevitable because of course we all want safe food, but what is safe to one is unsafe to others, so where in the middle will our politicians meet. Many are pushing that small or direct market growers be exempt, but there are many consumer groups pushing for no exceptions and a one size fits all policy. I personally am fighting this bill and am highly involved at the state level to at least make it more bearable for smaller/direct market farmers.

[J-L]

It’s a constant battle down here dominiquer60. Who knows what the intent was with the food safety bill. I can see how it concerns the market garden folks. If I were in their boots I’d be concerned too.
As far as the ‘death tax’ goes, that is a serious problem for those of us in agriculture. Most people think of the Rockefeller crowd when they think of that inheretance tax. What most don’t realize is that when it reverts back to the $650,000 ceiling that it will affect most small ranches and farms. It seems extremely unfair to make the heirs buy back their family’s business from the government.
Everything above that sum will be taxed at 55%! It doesn’t take much of an estate this day and age to go above that limit. This will cause a great deal of hardship to the small family ranches and farms. Our income won’t allow us to come close to paying that. The country will stand to lose still more farm and ranch land to development with this thing set up the way it is.

[dominiquer60]

I hear you on that one J-L, I often wonder if I could be in that situation some day the way that land values have gone up and the fact that 17 outbuildings can collect a lot of junk/assets before you know it. I think that a generation transfer plan can come in handy if you start long before you need to, if you can get the older generation to agree to such actions. I know that it has helped a few farms in our area, and there is a free service called NYFarmnet, at least it is free to get the ball rolling in the right direction, other states have similar programs too.

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