The problem is that very few people in the country own more than a house lot, if that. There will be little to no opposition to Gates et al seizing and controlling the land. There have been U.S. government farm policies for decades with the aim of urbanizing the population. It has worked. If a government wants to control people they have to be corralled. That was our policy in Vietnam and why we used Agent Orange to destroy crops and soldiers to "pacify" villages. We had to get those gooks into town.
Farms aren't the target, folks. In reality, about half the houses in metro cities are worth as much or more than the average farm. Loss of the stepped up basis will effect every one of them, and the net income from just that little change...... would blow your mind. In the case of housing, the solution is easy, sell instead of passing to your heirs (capital gains exemption on personal homes). Most people, however, are piss poor tax planners, or think they won't die, so if this goes through, it will impact quite a few people.
As far as farms and business, it will keep the tax and estate attorneys busy, and the diligent will implement the work arounds, but those who fail to plan will be skewered.
