Pauls' Revere
Member

He's due to sign an E.O. tomorrow and we're just now hearing of this today??? Wtf! https://news.yahoo.com/biden-plan-raise-taxes-middle-103004546.html This is what we refer to as “stepped-up basis.” And the rule absolutely does not apply only to “rich people.” The operation of Code §1014 is not controlled by one’s annual income, the value of the inherited asset, or the total value of one’s estate. It applies across the board. Every American taxpayer enjoys the benefit of stepped-up basis on inherited property. According to Gallup, as of 2017, 82 percent of Americans over age 65 own their own homes. That is the highest rate of homeownership for any age group. When these people die, their property passes to their heirs. If President Biden and the Democrats have their way, the coming years will see an increased transfer of wealth — not from parents to children (as it should be) — but from parents to the federal government. :mad:

Funny, I don't remember voting for any IMF members. And why is it that ONLY government can spend on social & economic things? Unless its so that they can take the money and direct it and spend it as they see fit instead of people and business deciding for themselves. https://finance.yahoo.com/news/gopinath-imf-very-much-in-support-of-global-minimum-corporate-tax-144331721.html IMF Chief Economist Gita Gopinath said that the fund has been calling for international cooperation on tax policy “for a long time,” adding that different corporate tax rates around the world have fueled tax shifting and avoidance. “That reduces the revenues that governments collect to do the needed social and economic spending,” Gopinath told Yahoo Finance Tuesday. “We’re very much in support of having this kind of global minimum corporate tax.” Gopinath’s remarks are likely to add momentum to U.S. Treasury Secretary Janet Yellen’s efforts to start an international dialogue on a new framework. The European Commission on Tuesday also said it supported discussions, but said the ultimate rate should be deliberated through the Organisation for Economic Cooperation and Development (OECD).

https://www.axios.com/caitlyn-jenner-california-governor-newsom-recall-a2815644-5855-4162-9ed9-50c93a01ae0d.html Former reality TV star Caitlyn Jenner is talking with political consultants as she actively explores a run for governor of California, three sources with direct knowledge of her deliberations tell Axios. Why it matters: Gov. Gavin Newsom, a Democrat, is facing a recall election. A challenge from Jenner, a high-profile Republican and previous Trump supporter, would draw heightened attention to the race to lead the nation's most populous state. Jenner is being assisted in her consideration by Caroline Wren, a longtime GOP fundraiser. Wren initially met Jenner through her work with the American Unity Fund, a GOP nonprofit focused on LGBT issues. Wren previously worked at Trump Victory, a joint fundraising committee for President Trump's 2020 campaign, and also helped organize the rally he addressed immediately before the U.S. Capitol assault on Jan. 6. A spokesman for Jenner declined to comment. Wren also declined to comment. Jenner burst onto the national stage when she won the 1976 Olympic decathlon. She transitioned to a woman in 2015 and adopted her new name.

Also, I find it curious that Yellen announces a global tax at the same time. https://apnews.com/article/janet-yellen-minimum-global-corporate-income-tax-0a839a4705566a8b9f8bd5411bfe62d5 https://www.thestreet.com/mishtalk/economics/anxiety-in-the-us-as-china-creates-the-first-major-digital-currency A cyber yuan gives Beijing power to track spending in real time. Importantly, it's money that isn’t linked to the dollar-dominated global financial system. The cyber yuan is a government-sponsored digital currency designed to track the movement of every penny. Bitcoin promotes anonymity.