Biden's plan to tax Getbiggers

[IroNat]

Elizabeth Warren’s wealth tax won't work. This will.

https://finance.yahoo.com/news/elizabeth-warrens-wealth-tax-wont-work-this-will-200020382.html

"Biden would target capital gains and inheritances for high-income Americans. For people with income above $1 million, Biden would raise the capital-gains tax rate to the same level as the income tax. The highest tax bracket is now 37%, but Biden wants to boost it to 39.6%, which was the level before President Trump lowered it in 2017. So Biden would raise the capital-gains tax from the current rate of 23.8% to 39.6%.

He’d also raise the maximum estate tax rate from 40% to 45% and lower the amount exempt from tax from $11.7 million, for an individual, to $3.5 million. Another Biden change would eliminate the “step-up” rule that basically voids capital-gains taxes on assets that have appreciated in value when the owner dies and leaves them to somebody else."

[ThisisOverload]

That's insane.

Not like i have to worry much about it though.

[Soul Crusher]

That's insane.

Not like i have to worry much about it though.

The step up rule is a disaster.  F Biden.