Republicans continue eviscerating our tax code. This time they’ve passed an exemption to the estate tax for family farms. While it sounds well meaning by providing families the ability to keep their farms from generation to generation simple life insurance is all they need. With simple financial planning and foresight they wouldn’t need to screw the rest of us who need government services and things like roads and bridges.
If you’re a family farmer you can figure out the value of your farm and call a life insurance company for a quote on term life insurance. If you anticipate a $500,000 estate tax liability, for instance, you buy a $500,000 term life policy and when you die your heirs use that to pay the tax and you get to keep your farm in the family. This isn’t rocket science folks. Term life is inexpensive. How is it we keep bailing out stupid people?