Finance News

Hillary's Plan For Estate Tax

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Justin Sullivan
Automatic TRANSCRIPT This transcript was automatically generated by AudioBurst technologies

Step up in basis now one of the things that we have right now is there's a federal and stayed tax but we got to step up and basis on our assets well what if there's no step up in basis in by building for a million bucks it's worth ten million on the day that you die today that capital gain on that ten million it as there is not because of under the eleven and a half million dollar federal state tax or also be no federal estates action that ten million dollar building to be bat passed on your errors if there is knows step up in basis then there's the nine million dollar capital gain and what do they both won hillary once to charge or more then twenty three and a half percent in capital gains taxes now by the way you've got to add if you're in california another you know nine to thirteen percent probably thirteen percent on that particular capital games now you're talking about thirty six percent capital gains facts and if you exceeded they know reaped three and a half laminate and now becomes double a taxed which would make the federal as spain attacks with no step up and basis the highest federal as stay intact in the world here in the united states of america and it is re aggressive by the way you can not tax your way to prosperity you grow your way to prosperity.