Senator Chuck Grassley tried to justify repealing the estate tax in an interview with the De Monies Registrar.
By Jason Noble
Few Farmers affected
The arguments from Grassley, Young, King and others, however, don’t match the reality found in federal tax data – particularly for Iowa.
Kristine Tidgren, the assistant director of the Center for Agricultural Law and Taxation at Iowa State University, said she’s not aware of any Iowa estates forced to sell land since the estate tax exemption was raised to its current level in 2012
“I haven’t come across any examples of an Iowa family that had to sell the farm to pay the estate tax,” Tidgren said. “I don’t think the current estate tax system threatens family farmers.”
In a Nov. 29 interview, Grassley was adamant about the need for change, even if farmers and small business owners represent a tiny minority of estate tax payers. The reason, he said, is as much philosophical as practical.
Senator Chuck Grassley takes a dim view of working Americans who are struggling to make ends meet.
And, he added, it penalizes savers without touching spenders.
“I think not having the estate tax recognizes the people that are investing,” Grassley said, “as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”
The seven-term senator runs an operation in Butler County with his son and grandson and frequently describes himself as a farmer. When asked if his own family farm would be subject to the estate tax, Grassley initially said it would not.
Then, after mulling it over a moment, he backtracked, noting that if he and his wife died on the same day the estate would be subject to the $5.5 million exemption rather than the $11 million exemption and likely would have to file an estate tax return.
Senator Grassley seems to think working Americans mindlessly fritter away their hard earned paychecks on frivolous pursuits. He seems unaware that working folks are struggling with higher costs for housing, and health care (no thanks to him and his Republican colleagues), all while trying to save for increasingly expensive college educations for their children.
Senator Grassley is also the recipient of federal farm subsidy programs.
Senator Grassley revealed his malicious Randian stereotypes of working Americans as his justification for huge tax giveaways to the undeserving wealthy.
Shame on him!
This is a Creative Commons article. The original version of this article appeared here.