General Discussion

Ms. Toad

(37,395 posts)

25. Aside from the impossible number of farms, the current number is $27,980,000 for a married couple.

Tue Jul 22, 2025, 02:51 PM

Jul 22

It's going to $30,000,000.

For reference, my parents Nebraska farm (and other assets acquired through non-farming endeavors) is valued at around $8 million (before tariffs changed the landscape, making farmland less valuable). It supported two families.

Before the tax bill, my parents could have passed 3.75 family farms capable of supporting two families each could have been passed tax-free. After, they could have passed 4 family farms capable of supporting two families each could be passed tax free.

The modest increase in estate tax won't make a bit of difference to family farmers.

Edit history

Please sign in to view edit histories.

Recommendations

1 members have recommended this reply (displayed in chronological order):

byronius

59 replies

= new reply since forum marked as read

Highlight:

Trump's Dementia [View all] surfered Jul 22 OP

"Death taxes". Maga talk Walleye Jul 22 #1

And the only farms lost to taxes.... HuskiesHowls Jul 22 #7

Taxes are a privilege not a penalty. Walleye Jul 22 #8

My grandmother always told me, "No one ever got poor paying taxes." sarchasm Jul 22 #16

I think nobody completely agrees with the way our tax money is spent.But I don't consider Medicaid to be "spending money Walleye Jul 22 #29

Math OrangeJoe Jul 22 #19

Your comparison is a bit off. Under Biden, the exemption was $27.2 million per couple. Ms. Toad Jul 22 #26

Or they could just give their farm to their heirs before they die Walleye Jul 22 #31

Not always possible. Ms. Toad Jul 22 #32

My mistake OrangeJoe Jul 23 #53

So here's another twist. Ms. Toad Jul 23 #58

I have very little sympathy for someone who owns a farm worth over $13 million Walleye Jul 22 #30

I guess you are unfamiliar with the concept of "land rich, and cash poor." Few family farms have a lot left over for Martin68 Jul 22 #39

I take your point. My mom face the same situation of being land poor during the Depression Walleye Jul 22 #45

As I understand it & I could be wrong. OrangeJoe Jul 23 #54

That is true. Land that is actively farmed is valued for taxation purposes at a much lower rate than residential land. Martin68 Jul 23 #59

They're small farms atreides1 Jul 22 #2

Census. 83000 between family farms and coops. bullimiami Jul 22 #3

"Like" a toddler?? AZ8theist Jul 22 #40

Think of the media frenzy if BIDEN had said the same thing. Paladin Jul 22 #4

Yep. "...the mainstream media's loathsome double standard..." calimary Jul 22 #10

I admire your obvious experience and expertise. (nt) Paladin Jul 22 #23

Awwwwwww, thanks, Paladin! calimary Jul 22 #36

I have a daughter whose middle name is Elizabeth. Paladin Jul 22 #41

I figured if it was good enough for a queen and a saint, it was good enough for my baby! calimary Jul 22 #42

I heard it was 2 trillion farms Johnny2X2X Jul 22 #5

It was 2 brazillion farms. Now how much is that? madinmaryland Jul 22 #46

surfered.............. Upthevibe Jul 22 #6

Math is so woke Botany Jul 22 #21

To be fair, he didn't say there are two billion family farms in Iowa DavidDvorkin Jul 22 #9

Still doesn't quite math dpibel Jul 22 #11

Oh, sure, it's still nonsense DavidDvorkin Jul 22 #20

If every person in China owned a farm it woudn't be 2 billion farms. Add the entire USA to that and it still would be twodogsbarking Jul 22 #12

trump ass numbers. pansypoo53219 Jul 22 #13

Pigs evilhime Jul 22 #14

He gets certain numbers stuck in his head and recycles them out of place. jmbar2 Jul 22 #15

THAT statement - "Trump Media bought $2 billion in bitcoin..." is 99% of the problem with this country. Moostache Jul 22 #27

I imagine it's too much to expect that Jake Tapper would notice. Vinca Jul 22 #17

Nah. He's just focused on which big interview is coming next. calimary Jul 22 #43

I'll trust Google's AI Overview over Prez Puffy on this one BaronChocula Jul 22 #18

According to the latest numbers, only 0.3% of all family farms were Wiz Imp Jul 22 #22

He meant 2 billionaire family farms. Ptah Jul 22 #24

Aside from the impossible number of farms, the current number is $27,980,000 for a married couple. Ms. Toad Jul 22 #25

Dementia plus Lies equals Nightmare for All Chalco Jul 22 #28

How can you tell he's not just outright lying as usual? live love laugh Jul 22 #33

The fuck? Fucking Iowa in his mind must be bigger than China. Karasu Jul 22 #34

"Stable genius". Smart enough to rake horseshit. oasis Jul 22 #35

I think that is supposed to be "2 billion (dollars worth of) family farms" eggplant Jul 22 #37

Yeah, that's what I thought when I saw this. It's a shame though. C Moon Jul 23 #55

Or because there aren't 2 billion farms in the country Picaro Jul 22 #38

Don't forget while talking about farms that MW67 Jul 22 #44

Will Iowa Magats notice, or care? No. The good news is that as Phoni Joni Hassler Jul 22 #47

In the ever accurate words of Representative Jasmine Crockett Attilatheblond Jul 23 #48

Where'd that number come from? Did a search and msn.com has it a tad lower than 2 BILLION farmers in Iowa Attilatheblond Jul 23 #49

But each Iowan JDAcme Jul 23 #50

AI hallucinations are more tethered to reality than that. dgauss Jul 23 #51

How's this differ from his pathological lying? live love laugh Jul 23 #52

It doesn't matter lonely bird Jul 23 #56

Come on, each corporate family MIGHT own 3M other ones? Brainfodder Jul 23 #57