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No. of Recommendations: 9
So Biden wants a 49% marginal capital gains rate with a forced collection at death. A new middle class death tax. Yeah, he's asking for a $1M exemption, but that might end up being much lower and even halved for singles...he'll claim the $1M was for couples, the same way he's trying to welsh on his no tax hike for under $400,000. And Bernie Sanders and gang wants to lower the estate tax exemption to $3.5M from the currently schedule $6M in 2026.

So at the margin, on assets with a zero basis, a 49% capital gains tax and about a 50% estate tax. If I do the math about right, the heirs end up with about 25 cents on a dollar. I agree this won't hit the little guy, but it does hit family businesses. And is it really American to take 75cents of someone's dollar at death?
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