President Biden’s American Families Plan includes a radical change to the way capital gains tax is applied to estates. It would reduce the threshold from $11.7 million to $1 million, potentially exposing lower earners to the tax, particularly those hoping to pass on homes to their children.
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That is nothing here in California where homes are pretty much $1 million.
Joe hates the proletariat....
They intend to outlaw ownership of private property.
A Communist wet dream.