Skip Navigation

The Billionaires Tax Is Back - Democratic Senator Ron Wyden (D-OR) has a plan to make the ultrarich pay.

newrepublic.com The Billionaires Tax Is Back

Democratic Senator Ron Wyden has a plan to make the ultrarich pay.

The Billionaires Tax Is Back

"The legislation [introduced by Wyden] targets a practice known as “buy, borrow, die” that billionaires use to avoid paying income taxes: A billionaire buys assets that appreciate in value, borrows against those assets’ increasing and untaxed value, and then passes on the assets to beneficiaries when they die, without paying taxes. Wyden’s legislation would require people with more than $1 billion in assets to pay capital gains taxes on the appreciation of value in these assets—such as real estate, stocks, or collectibles—regardless of whether they are sold."

10
Conservative @lemm.ee Neuromancer @lemm.ee

The Billionaires Tax Is Back

-28 25

You're viewing a single thread.

10 comments
10 comments