A true minimum tax. A true minimum tax on billionaires that ensures the people at the very top pay at least the tax rate their own workers pay. We also should end this tax free lifestyle loan. 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 to be $124 trillion, that will be changing hands, doesn't lock in a permanent American aristocracy of inherited wealth. (00:48–01:01)
CLAIM
Asserts that the ultra-wealthy exploit a loophole to avoid taxable income by borrowing against stock portfolios.
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