Arizona Farming: New Taxes May Hit Farmers and Ranchers Hardest
By Congressman Paul Gosar, D.D.S. (R-AZ)
The Obama administration’s tax policies have been an attack on farm and ranch families. The tax and spenders fail to understand that taxes punish the very things we want more of: productive work,
Beginning this year, Obamacare or what I sometimes refer to as the Un-affordable Care
When a farm or ranch is sold, a new Medicare Contribution Tax may be imposed on investment income such as capital gains. This will undoubtedly burden farmers and ranchers more than many other taxpayers because farming and ranching is a capital-intensive business. It amounts to a retirement tax on agricultural producers who invest in their businesses rather than traditional retirement vehicles like a 401k.
Current farmers may be reluctant to sell their land with an additional capital gains tax. This would make it increasingly difficult for beginning farmers to acquire land needed to get started in business.
Obamacare may also apply an extra tax on income for individuals labeled “
Beginning in 2014, Obamacare even imposes a health insurance tax or HIT on most of the country’s 5.8 million small businesses and 15 million self-employed individuals. Not surprisingly, this tax mostly bypasses unions, big
Who in their right mind would support policies that stunt job creation and economic growth? Not I. But
Under President Obama, a tax on income is the price individuals pay for working. A tax on profits happens to be the price people pay for success. And, a tax on capital gains is the price people pay for taking risks that fortunately
I support the repeal of the Medicare Contribution Tax, the Medicare tax on “