Trump Terminates The Death Tax

At the American Farm Bureau Annual Convention, President Trump gave a shocking announcement that was received with an excited standing ovation. The announcement? No more death tax from the 2017 Tax Cuts and Jobs Act.

Apparently, our president wanted to focus on farmers because their importance to society and the economy. He studied the effects of their burdens with the law and decided it was doing more harm than good.

Here is the Presidents statement, “All American businesses, including American farmers, will be able to deduct 100% of the cost of new equipment in the year you make the investment. That is something that I think is going to be the sleeper of the bill, you deduct it all in one year as opposed to over many years, that’s a tremendous thing.”

“And from now on, most family farms and small business owners will be spared, and you’re gonna be spared and it really is the word punishment, of the deeply unfair estate tax known as the death tax — so you can keep your farms in the family.”

  • Howard Kirshenbaum

    So what is the big news? Right now 80 farms are big enough to owe the estate tax, when it ends in 10 years it will be 60 farms. Big deal. Small businesses and farms haven’t been subject to the estate tax for years A family farm had to be $11 million before and $22 now.

    What no one is talking about is the step up in value. Does that go away when the estate tax goes away? For everyone? Now you increase the value of the asset to the date of death value when you inherit property. Talk has been that if the estate tax goes away, so does the step up. The step up in value has saved lower income people millions of dollars. Do we get screwed again so the wealthy can get a break?

  • don lavrich

    its about time. the death tax is nothing but a burden to families, who have already paid taxes on their money their whole lives. why should they be taxed again when they pass on? they have scrimped and saved their whole lives to leave their children something. what makes the government our god, and take whatever they want from you and leave your family peanuts. the best way to go is a living trust. my parents have done that for myself and my sister and the government cant get their dirty hands on it. thnx again mr. Trump. you are doing a phenominol job. its about time we have someone as our president that knows what hes doing and also has guts to go up against these lefties that want to destroy this country! God bless you sir, and may He keep His hand on you and protect you!