re: Biden Embraces G20-Proposed 2% Wealth Tax To Battle 'Racial Wealth Inequality'

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A 2% wealth tax would cause big downward movement in asset prices as billionaires sell their shares to come up with the money for the tax bill

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How would they enforce this? Who is going to value closely held entities? The IRS will get smoked every step of the way.


As my mentor told me before my first tax trial: “don’t worry. If they were a good attorney…they wouldn’t still be at the IRS”