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Debunking Robert Reich's "Tax the Rich" Myths || EP 599

Good Morning Liberty

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What's the Alternative to the System They Have Right Now?

70% of wealthy families lose their wealth by the second generation. 90 % jes by the third generation. It's absolutely insanity to think that because you pass down any sort of wealth to your family members that you should have to pay capital gains on whatever the value was. Just because your dad died doesn't mean that you've magically got a million dollars to pay in taxes without selling everything. If they, if they got rid of the stepped up basis andit included farms, what my sibylines and i would have to do is sell farm land to pay off the tax on the farm. When they do that, h who's that helping? Just the government.

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