Detailed text transcripts for TV channel - FOXNEWS - 20190611:18:08:00
Stepped-up basis means that you make a capital gain, you buy a stock, and it's worth 100,000. you make 150,000 or 1 million. guess what? you pay capital gains task on that. the tax is much lower than your normal text. that means that government in fact collected 17 billion less dollars in taxes because of that particular exemption in the code. you eliminate that one, you would raise 17000000000 out o 17000000000 out of $1,600,000,00 0,000. it would hurt nobody. now, what is it? it means if you have a capital gain, and i hope you do, god forbid, you get struck by lightning, you die. it gets lef...
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