Subject: Re: Harris and the Dem tax proposals,

hclasvegas The Harris-endorsed budget calls for an annual 25 percent minimum tax on the unrealized gains of individuals with income and assets that exceeding [sic] $100 million.

Gosh, I wonder how those poor folks with more than $100 million in assets (including the many who inherited their vast wealth) will survive?

Those with assets exceeding 100 million have benefits. I once listened to a conversation between Estate Tax attorneys. where one bragged that by using restriction clauses, they reduced the value of a $30 million dollar business to 3.5 million dollars. So there are ways and there are ways.

We've got people inheriting on a stepped up basis up to ? millions. Wealth can be moved overseas, entities changed, etc., and returned without tax or much less foreign taxes. Hedge funds get special breaks. We need to tap into all of that. This is a hugely desirable market.