Biden may have rejected a Bernie Sanders-style wealth tax, but he is proposing other ways of taxing wealth without explicitly labeling his policies a wealth tax. Instead of taxing wealth on an annual basis, as was advocated by Bernie Sanders and Elizabeth Warren, Biden would tax wealth at death—by as much as 67 percent. Join Steve to understand Biden’s proposed major tax increases on accumulated wealth including corporate tax rates, social security, individual tax rates, Medicare, capital gains and qualified dividends, itemized deductions, estate tax, basis step up, and 1031 exchanges.
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Presented by Steve Mancini, Esq.