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THE BROWNS BOARD

Joe Biden “wants to get rid of something called ‘stepped up basis’” that reduces inheritance taxes.


Vambo

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https://www.politifact.com/factchecks/2020/oct/29/facebook-posts/yes-biden-seeks-eliminate-policy-reduces-inheritan/

 

2021-01-04_134855.thumb.jpg.9e69020a4233778c9257e78540446733.jpg

 

Current Policy
Inherited House at Current Value - $200,000
Sells for $205,000
Taxable income = $5000
Taxes Due - 20% of $5000 = $1000
Profit to you = $204,000
 
Biden Policy
Inherited House at original purchase price - $40,000
Sells for $205,000
Taxable income = $165,000
Taxes Due - 20% of $165,000 = $33,000
Profit to you = $172,000
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of course. They must have big money to give to china and the losers on the left who want a free ride, especially all

the "new voters" who don't speak English, but will be taught to vote for "D" every time.

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