This is in response to the Letter writer in Sunday's Journal applauding the elimination of the estate tax. One of the chief arguments of those seeking repeal of the estate tax is that it is hurting farmers whose heirs are forced to sell holdings to pay the taxes. This assertion is more myth than fact.
As one who is involved in the farming industry and has been for years, I fail to see the logic when the exemption is so adequate and keeps rising. Something that I never hear mentioned. The exemption for the estate tax in 2004-2005 was $1.5 million, 2006-2007 it is at $2 million, and for 2009 it rises to $3.5 million. These amounts are for one person, for a couple it would be double. A small parcel of farmers are having to pay this tax.