The Washington Spectator: Tax Policy Options for the Next Administration

Bernie Sanders has proposed taxing estates worth more than $3.5 million. The Institute on Taxation and Economic Policy estimates that this would raise more than $30 billion a year. Another reform would generate a good deal more revenue—ending the so-called “step-up” provision of capital gains. When heirs receive an asset, they don’t owe taxes on any prior gains in the value of that asset. If the heir sells that asset, they only owe capital gains taxes on price increases since they took ownership. Read more