In the American Families Plan introduced earlier this year, Biden proposed repealing the “step-up in basis” in tax law. The stepped-up basis is a tax provision that allows an heir to report the value of an asset at the time of inheriting it, essentially not paying gains taxes on how much the assets increased in value during the lifetime of the deceased. This allows heirs to avoid gains taxes altogether if they sell the inheritance immediately.
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Kill the small farmer, and have him sell it to the Chinese. The Big Guy will get ten percent of the profit of China selling us the food that we no longer can buy from Americans.
ReplyDeleteWhat's the average number of years between inheritances? If its 25 years, then every 25 years, every corporation that owns land should pay the same tax. If they don't like that, replace that 25 years with 'every time you get a new officer'.
ReplyDeleteYou can bet your life that ADM would spend a billion dollars to deep six that law.
He would have been arrested had he had been caught. Don’t lose the faith, brother.
ReplyDeleteDOL