Biden's gambling on another death tax to fund his budget goals | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

Biden's gambling on another death tax to fund his budget goals

Our nation's job creators have endured an economic calamity unlike anything we have ever seen in modern times — the crushing blow of COVID. In response, President Joe Biden promised to “Build Back Better” America’s economic growth and prosperity opportunities. But his proposed American Families Plan threatens the very foundations of those opportunities — a foundation long supported by small businesses across America.

Republican and Democratic presidents before Biden offered plans to sustain America's greatness; however, these goals often become lost in the bureaucracy of Washington's partisan fights. The real tension is about who sacrifices and pays for the cost of prosperity.

Under Biden's plan, more small business owners will be required to make that sacrifice than you may think. In particular, the president would eliminate the step-up in basis from the transfer of appreciated property — effectively imposing a second “death tax” and increased bureaucracy on families, small businesses and farms.

Webmaster's Commentary: