The annual wealth taxation of the rich takes extra time, says the official

Law360 (June 10, 2021, 7:41 p.m. EDT) – Proposals to tax wealthy people on the appreciation of their assets – whether or not they are sold – look promising but not yet "prime time ready," a US Treasury Department official said Thursday.

Kim Clausing, deputy assistant secretary of the Treasury for tax policy, said President Joe Biden's proposals to increase taxation on the ultra-rich would address inequality concerns and could be implemented in the short term. These proposals include increasing taxes on capital gains and taxing heirs on unrealized gains on assets they inherit.

Other suggestions, such as Senator Ron Wyden, D-Ore., On taxing asset appreciation …

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