Wednesday, July 16, 2008

E-mail Lies About Taxes

There is an e-mail going around claiming that Obama's tax proposals will hurt the working class more than McCain's. It is simply not true. There are articles about the two plans here and here. You can find these and more by Googling "Obama V McCain tax". You can also tell that this is BS because it says that families have lost farms and small business because of the Estate Tax. It simply has not happened. The right has been telling this lie for years. They know that most small business men and farmers over value their assets and do not sub tract their liabilities when thinking about how much their business or farm is worth. That is what estate tax is paid on the market value less liabilities. You have to subtract the seed loan, the equipment loans and the mortgage from the value of the family farm. Once that is done most farms have little or no value.

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