 Candidates Respond to Farm Bureau Policy Questions |
The American Farm Bureau on Monday released position statements by President Barack Obama and Republican Mitt Romney on several agricultural policy issues.
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Romney: "As president, I will eliminate the estate tax, helping keep family farms and ranches intact when businesses pass on from one generation to the next. I will also maintain the current 15% capital gains rate for wealthier Americans, while totally eliminating capital gains, dividend, and interest taxes for those who earn less than $200,000 per year. "
Obama: "My proposal would return the top tax rate on estates to 45 percent and reinstate the $7 million per-couple estate tax exemption, which exempts all but the wealthiest 3 in 1,000 decedents from the tax, but still helps us reduce the deficit.
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