State and European Wealth Tax
True/False: States are worried about a mass exodus from their state if a wealth tax is implemented?
True
What is the loophole Joe Biden plans on closing?
Step-up basis
What is a wealth tax imposed on?
Wealth
What country did not propose a state wealth tax?
CA, NJ, NY, TX
TX
What is the ultra millionaire net worth threshold?
What is another word for a wealth tax?
Capital Tax or Equity Tax
What state is the closest to enacting a state income wealth tax?
California
What percent of Jeff Bezo's wealth is made up of Amazon stock?
90%
Why would a wealth tax be tough to calculate?
What European country recently got rid of a wealth tax?
France
What state is Elizabeth Warren the senator of?
Massachusetts
When did the IRS launch their audit campaign focusing on returns filed by high-wealth taxpayers?
July 15th
What is the proposed top state income tax rate in California?
16.8%
What amount can be transferred tax free to children right now under President Trump?
$23 million
What is the "Use it or lose it" pro of a wealth tax?
The wealth tax favors those who deploy their assets more productively.