Biden Talks Taxes ...

Kinkead's Korner Text

So far we've heard the following:

  • Raise the highest income bracket back to 39.6%.
  • A "cap" on itemized deductions for wealthier Americans. 
  • Limit "like-kind exchanges" for real estate investors.
  • Phase out the 20% deduction for qualified business income for top tier taxpayers.
  • Maybe eliminating the "step up in basis" for inherited capital assets.
  • Ending favorable capital gains for anyone making over $1 million.

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