No. of Recommendations: 0
" The Democrats have definitely moved more to the populist left and are likely to continue being more economically progressive going forward, so we can expect to see changes in tax policy to reflect that. I think that there will definitely be efforts to possibly tax unrealized cap gains, for example. But an actual wealth tax is probably well outside."
Thanks Al, appreciate your thoughts. One way or another, loopholes are going to be closed. Cap the stepped-up basis to say 10 million, tax the proceeds from gifted untaxed assets as they are sold by Foundations, tax avoided untaxed, income, from the super-rich etc.
Am I too early, Ossoff and AOC in 28?
