E-Newsletters
There are few things in life that seem as unfair as a death tax. After a lifetime of building up your farm or small business, the notion that the federal government is owed anything upon your death is outrageous to me.
We all rely on agriculture at least three times a day. From the orange juice you enjoy in the morning to the popcorn that you eat at night, agriculture provides our nourishment each and every day. No matter where you live, your grocery store is filled with produce, fruit, meat and dairy products.
As we get ready to reauthorize the farm bill, I am reminded of one of our country's blessings. We have the safest, most abundant food supply in the world. That is due in large part to the hard work, ingenuity and determination of our farmers and producers.
With the mild winter this year, many farmers are starting to worry about how the dry winner will affect planting season. There is enough to worry about without new regulations from Washington.
My colleague and fellow farmer, Blaine Luetkemeyer, and I have in the past secured a federal waiver that ensured the timely delivery of farm supplies for the planting season.
I am often asked where I get my work ethic. The answer is easy: from growing up on a farm. I learned about responsibility at an early age by caring for animals and working with my family in the field. To this day, those lessons I learned about the value of an honest day's work have stuck with me.
Last week the President laid out his plans in the annual State of the Union address. In the coming weeks, the President will submit a budget for the year and Congress will begin to debate it. Budgets are about priorities and this is where the hard work of balancing our nation's budget should begin.
Washington has never been particularly good at sticking to its budget. As author William Feather said, "a budget tells us what we can't afford, but it doesn't keep us from buying it." In fact, the federal government has run a budget deficit in 47 of the last 52 years.
The Constitution says that the President shall "from time to time give to the Congress information of the State of the Union…" That time comes this week as the President will report on the condition of our country and outline his legislative goals for the year.
The State of the Union speech is full of pomp and circumstance. It was not always this way. Thomas Jefferson thought the speech made us look more like a monarchy than a democracy. He sent a written address instead. However, in 1913, Woodrow Wilson decided to give his speech in person.
Every occupation has its busy season. For farmers, it's during planting and harvesting. For teachers, it's the hustle and bustle of a new year. For amusement parks, it's the summer season. It's no different for tax accountants who are busy studying up on the over 70,000 pages of tax rules and regulations.
Missourian Harry Truman always wanted a one-handed economist. He explained that all of his economists said on the one hand…but on the other hand. Sometimes, it's hard to make heads or tails of the economic news from Washington.
On the one hand, the unemployment rate dropped to 8.5%, the lowest since February 2009. The economy added 200,000 jobs which were more than expected. Those are positive numbers that seem to indicate our economy is recovering.
The corn is off the cob for 2011, but as we begin 2012, there is much that needs to be done. The floods of last summer have now mostly subsided. As clean up continues, we need to start preparing for 2012.
The Missouri River breached levees from Sioux City to mid-Missouri. Unlike a normal flood, it took months for the water to return to its banks. There are many levees that need to be repaired and many will not be rebuilt to the same height in time for spring.
Congress finally completed its work last week when it extended the payroll tax break for the first two months of 2012. It did not happen easily and I don't blame you if you were left wondering what all the fuss was about.