Biden plan would tax wealthy estates as much as 67%

Published October 29, 2020 5:07pm ET



Joe Biden would tax the estates of wealthy individuals at a rate as high as 67%, according to an analysis by the Tax Foundation, a nonpartisan think tank that examines the tax code.

That high rate is a combination of Biden’s plans for raising the capital gains and estate taxes for people who earned over $1 million annually before death.

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