Dems’ Billionaire Tax Proposal in Chaos: Ways and Means Chair Says Plan Scrapped – Senate Finance Chair Says Tax Plan is Not Dead
The Democrats’ so-called ‘billionaire tax’ proposal introduced by Senator Wyden on Wednesday is in total chaos.
A quick recap of what this horrifying tax policy does:
-applies to taxpayers making as little as $25 million, not “billionaires”
-retroactive tax hike on assets held for decades and never sold
-49% double death tax
-backdoor repeal of Opportunity Zones, 1031 exchanges, and gift tax exclusion
To sum up:
-applies to taxpayers making as little as $25 million, not “billionaires”
-retroactive tax hike on assets held for decades and never sold
-49% double death tax
-backdoor repeal of Opportunity Zones, 1031 exchanges, and gift tax exclusionhttps://t.co/tQgPHKOJnL
— Ryan Ellis (@RyanLEllis) October 27,
