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

[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.

[Austrian Economics]

Land, real estate and equity prices are all skyrocketing thanks to our global regime of zero percent interest and the immutable law of Net Present Value.

Rather than consider the incredible damage zero percent interest is doing to the economy, the powers that be think that they can somehow heal the damage by harnessing the law of Net Present Value and expropriating a chunk of everyone's capital on a regular basis.

What could possibly go wrong?

[burnt]

Land, real estate and equity prices are all skyrocketing thanks to our global regime of zero percent interest and the immutable law of Net Present Value.

Rather than consider the incredible damage zero percent interest is doing to the economy, the powers that be think that they can somehow heal the damage by harnessing the law of Net Present Value and expropriating a chunk of everyone's capital on a regular basis.

What could possibly go wrong?

Greece took haircuts.

Biden's going for the whole scalp.

[helmsdale]

Land, real estate and equity prices are all skyrocketing thanks to our global regime of zero percent interest and the immutable law of Net Present Value.

Rather than consider the incredible damage zero percent interest is doing to the economy, the powers that be think that they can somehow heal the damage by harnessing the law of Net Present Value and expropriating a chunk of everyone's capital on a regular basis.

What could possibly go wrong?

They're in so damned deep that they perceive there to be no other option...

Normalize interest rates? Only if you want to commit economic harakiri (suicide by disembowelment).

I have no idea where this goes from here. What an utter mess. If anybody tells you they know how this ends other than "badly", they're full of shit.

[furrowtickler]

TEXIT .... they not so happy
My guess is several states follow , could be wrong

[Oliver88]

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,

That would work.

[SASKFARMER]

Wait 6. On that to a year Biden will be gone. Then the real damage will happen. Americans will have Byers remorse.

[rumrocks]

That would work.

[ATTACH]7482[/ATTACH]

Looks like Oklahoma and Saskatchewan have something in common.

[SASKFARMER]

I love oklahoma.

[bigzee]

Maybe it is time to exit this program and start enjoying what we’ve worked for before they take more. Try and be one step ahead ... if that’s possible.

The stress and mental health farming takes on a person is beyond measurable. Everyday there is something we have to deal with. There’s so little in this game anymore and to hear of this possibly going to happen in the US, this just gives Turdhead more ridiculous ideas how to draw more blood out of us.

I don’t know how the younger farmers are going to make a go of it.

[jazz]

I don’t know how the younger farmers are going to make a go of it.

The ag more than ever crowd is busy drawing up a code of conduct for all of us, without consulting any of us.

There is a group of people actively assisting in this take over, some right in the very industry.

But I dont want to trade land for paper money and try to sit on that. They are destroying that as well.

But maybe some well heeled BTO would rather run over my acres and deal with Trudeau and Biden.