Proposal: Billionaire Realization Obligation on Tax-Avoiding Xtraction

Proposal for the BROTAX Act Purpose To treat borrowing against appreciated assets by the wealthiest taxpayers as a realization of gain, to end the stepped-up basis at death for those taxpayers, and to require lenders to report securities-backed credit. Findings The Internal Revenue Code taxes capital gain only when an asset is sold. Taxpayers... Weiterlesen: Proposal: Billionaire Realization Obligation on Tax-Avoiding Xtraction