#2 2022-01-01 11:12:23
I think they actually got this one right. Yes, the value of the top 1% versus the rest of us is staggering but I certainly don't want to pay UCG until I'm retired.
They need to go after trust funds and inheritances. The predatory lending companies have already started the practice of lending money on inheritance trusts while they're still in probate, and good for them! This notion that "assets must stay in the family" has died the same death that "America is the world's manufacturer" and "America is a Christian nation" have.
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#3 2022-01-01 13:35:44
It was a fools errand and half baked plan to tax UCG like that. Even with that proposed rule change, the current tax code would still let the really wealthy slide right past, all legal like. Until they start actually closing loopholes the rest is just window dressing. And the tax burden shifts again back to the less fortunate.
Exhibit A is damn clever. Unlimited cloning of a single $10m max Capital Gains waiver. That there is even a single $10m UCG waiver should be shocking enough.
This is the story of the incredible cloning tax break.
The peanut butter secret: A lavish tax dodge for the ultrawealthy.
A tax break aimed at small businesses has become a popular way to avoid taxes on investment profits.
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