Topic: Estate Tax

The Biden administration and Treasury Secretary Janet Yellen have proposed taxing unrealized investment gains, which the host describes as an attack on homeowners and cryptocurrency holders. Jordan Schachtel explains that such a tax would require financial institutions like Robin Hood or Fidelity to report asset appreciation to the government even if the assets are not sold. This policy is characterized as a barrier to the American Dream for those living paycheck to paycheck.

The 2017 Republican tax plan focuses on a permanent reduction of the corporate tax rate from 35% to 20%. Critics argue this shift ignores the fact that corporations rely on public infrastructure, such as roads used by heavy shipping trucks, while contributing less to their maintenance. The bill's passage was timed for the Friday before Christmas to minimize public debate and media scrutiny, with provisions like the estate tax repeal primarily benefiting wealthy heirs.