Mike Thompson's New Wine Tax Break

(May 31, 2010)

The Gulf of Mexico is on fire, the U.S. Treasury has no viable plan to pay the national debt. Representative Mike Thompson's response: give another special tax break to vineyards. It may worsen the national debt, but the donations by Napa and Sonoma County vineyards. to Thompson's re-election campaign we keep flowing.

Mike submitted H.R. 5475, "To amend the Internal Revenue Code of 1986 to exempt certain farmland from the estate tax, and for other purposes, " on May 28, 2010, with 21 cosponsors. The text of the bill is not available yet, but clearly it means no estate taxes for Mike's friends (and family).

Some argue there should be no estate tax at all, or no capital gains tax, or no income tax. Heck, why not just close down the government? What is clearly unfair is giving some persons or businesses favorable tax treatment.

Be sure to ask Mike for a tax break for you or your business. Do not enclose an election campaign donation check with the proposal. They should go in separate envelopes. That, apparently, is legal.