Posted 6/30/2020 07:37 (#8344718 - in reply to #8344677) Subject: RE: I guess stepped up basis is considered a loophole
Baby Robin - 6/30/2020 07:20
Boone- do you have any insight into how much “tax revenue” would be generated to the government IF the stepped up basis Was eliminated by a Biden administration? Does this “inkle” what kind/scope/size some of these social programs would balloon to?
Robin, while I don’t have an answer to revenue projections, your question brought a key point to the forefront of my mind, and that’s projected revenue he may be counting on will get watered down immensely because of the collapse in the assets current values. You only owe on the gains, and if the gains get halved, the anticipated revenues are also halved.