Gavin Newsom: “The largest intergenerational wealth transfer in human…”

“This is the gimmick that allows the ultra wealthy to borrow against their stock portfolios while reporting no taxable income. We also have to rewrite those inheritance rules so that The largest intergenerational wealth transfer in human history, estimated BY well be $124 trillion that will be changing hands. doesn't lock in a permanent American aristocracy of inherited wealth. Time as well to return to the pre 22017 corporate tax rates. And time to close those offshore loopholes once and for all.” (01:03–01:13)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.