Stay updated with breaking news from Step Up Basis. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
LAS VEGAS, Dec. 22, 2021 /PRNewswire-PRWeb/ -- RISE VILLAGE Opportunity Zone Fund (RVOZF) is seeking accredited investors for a mixed use real estate
Some inherited assets are tax-friendly, but under new rules, others come with a hefty tax bill. We help you get the most out of a legacy.
It would affect 700 to 800 people in the whole country every year. catherine rampell and john leiber, former adviser to mitch mcconnell. catherine, this is important for two reasons. it is possible this is one of the last missing links for democrats on how to pass their agenda. the second part, this is a very, very different and very major tax overhaul. how exactly do you see it? >> i think what happened is as much as democrats like to tax the rich and corporations, it had gotten cold field on all the ways to tax the rich and corporations. they have ruled out a number of pretty targeted propos...
Saying this is how the ultra rich a mass wealth. they don't get a salary. so taxing their salary doesn't have them pay their fair share. they a mass wealth through assets which grow as long as they live. so what's wrong with paying them pay for that wealth being amassed? >> catherine talked about some of the ways. one is eliminating the step up basis death. but you wouldn't get the money right away the way that you would here. it will result in asset sales on some that are targeted by this and unexpected effects. if the supreme court strikes this down, there won't be any revenue to pay for the...
Put out here how they want to pay for the biden agenda, right. you have the minimum corporate tax, but you also have this tax on billionaires, of tax the rich, essentially. but you think that may not work as well as democrats are hoping. why? >> i think the problem for democrats is that while they say they want to tax the rich and tax corporations, when the rubber meets the road, they keep on excluding the most obvious possible ways to raise revenue from those two sources. they said, okay, we can't raise corporate tax rates. we can't raise personal income tax rates. we can't get rid of the car...