We currently have 7 brackets capping out at $609,351 (37%) [1]. I say we add brackets at $2mm (39%), $10mm (41%), $100mm (43%) and $1bn (45%).
Then take away the stepped-up basis past 10x the median American's wealth (about $6mm [2]).
If you do it right, you could actually (increase) the thresholds on the lower brackets, thereby bringing the median voter's taxes down.
[1] https://www.irs.gov/filing/federal-income-tax-rates-and-brac...
[2] https://finance.yahoo.com/news/average-american-net-worth-62...
We currently have 7 brackets capping out at $609,351 (37%) [1]. I say we add brackets at $2mm (39%), $10mm (41%), $100mm (43%) and $1bn (45%).
Then take away the stepped-up basis past 10x the median American's wealth (about $6mm [2]).
If you do it right, you could actually (increase) the thresholds on the lower brackets, thereby bringing the median voter's taxes down.
[1] https://www.irs.gov/filing/federal-income-tax-rates-and-brac...
[2] https://finance.yahoo.com/news/average-american-net-worth-62...