Judd Legum

@JuddLegum ↗

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Last Checked Aug. 29, 2022

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Thu Sep 16 12:44:59 +0000 2021

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Judd Legum @JuddLegum

3. Right now, extremely rich people can accumulate billions in wealth gains throughout their lifetime through capital gains from stocks and other assets But they can avoid paying taxes by passing those assets onto their heirs https://t.co/aQV11Aqou1 — PolitiTweet.org

Posted Sept. 16, 2021 Hibernated

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Judd Legum @JuddLegum

2. These lobbyists have convinced DEMOCRATS to kill some of the most important of Biden's proposals For example, the House Ways and Means Committee has dropped Biden's plan to end the tax loophole for dynastic wealth It's egregious https://t.co/aQV11Aqou1 — PolitiTweet.org

Posted Sept. 16, 2021 Hibernated

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Judd Legum @JuddLegum

4. This is called the "stepped-up basis" loophole. At death, the "cost" of the stock or asset for purpose of capital gains is "stepped-up" to its present value. This allows the heirs of the very wealthy to avoid paying taxes on those gains EVER https://t.co/aQV11Aqou1 — PolitiTweet.org

Posted Sept. 16, 2021 Hibernated