🔁Equalizing labor and capital tax burdens is a key change proposed by Dr. Yeagen.
🔒The Gingrich-Edwards loophole needs to be closed to address the labor and capital disparity.
🔚Ending abuse of trusts is crucial to prevent the evisceration of the estate tax.
What changes does Dr. Yeagen propose to America's tax code?
—Dr. Yeagen proposes three changes: equalizing labor and capital tax burdens, closing the Gingrich-Edwards loophole, and ending abuse of trusts.
Why is equalizing labor and capital tax burdens important?
—Equalizing these tax burdens addresses the disparity between labor and capital and promotes fairness in the tax system.
What is the Gingrich-Edwards loophole?
—The Gingrich-Edwards loophole allows individuals to undervalue assets by putting them into trusts, resulting in the evisceration of the estate tax.
Why is ending abuse of trusts necessary?
—Ending abuse of trusts prevents the evasion of estate taxes by valuing assets at a lower amount.
What are the potential benefits of these proposed tax code changes?
—These changes promote fairness, prevent tax avoidance, and ensure a more equitable tax system.
00:01Dr. Yeagen proposes three changes to America's tax code.
00:14Equalizing labor and capital tax burdens is one of the proposed changes.
01:04The Gingrich-Edwards loophole needs to be closed to address the labor and capital disparity.
01:21Ending abuse of trusts is crucial to prevent the evisceration of the estate tax.
01:55Dr. Yeagen supports a billionaire minimum income tax to address income inequality.
03:48Prepaying taxes on unrealized gains is proposed by Dr. Yeagen to ensure taxation on appreciation of assets.
