good morning, you might not know this but many of us own brkb or brka. Have you given much thought to how these tax proposals might impact us? Thanks.

This isn't even a bill, it is a proposal. And we haven't even had the election yet which is pretty much a coin flip at this point. When that happens it is very unlikely the Democrats will capture the House thanks to some gerrymandering in North Carolina. Only sightly better odds of keeping the senate. On top of that, some of these proposals have been floated before and didn't pass. I wouldn't lose any sleep over any of this at this point.

But since you asked, one thing the CNBC video didn't account for was that under current law, state and local taxes will become fully deductible on the federal after next year. So effectively no one will be paying marginal rates that high. As a guess, I'd say that for most people here that will be a bigger tax break than the proposed tax increases.

Berkshire Hathaway FAQ

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