{"id":5581,"date":"2021-07-11T16:06:23","date_gmt":"2021-07-11T16:06:23","guid":{"rendered":"http:\/\/lonecandle.com\/?p=5581"},"modified":"2021-07-11T16:06:23","modified_gmt":"2021-07-11T16:06:23","slug":"billionaires-are-racing-to-sidestep-president-bidens-plan-to-raise-their-taxes","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=5581","title":{"rendered":"Billionaires are racing to sidestep President Biden\u2019s plan to raise their taxes"},"content":{"rendered":"\n

\n\n“The new president wants the rich to pay much more in taxes<\/a>, in order to finance a $1.8 trillion plan<\/a> to invest in things like child care, education, and tax cuts for the poor that are meant to reduce inequality.<\/p>\n\n\n\n

But standing in the other corner of the ring is a sophisticated wealth management and accounting industry that is ready to fight, eager to temper every aggressive proposal and exploit every loophole to please their clients who pay them big bucks to defend every dollar.<\/p>\n\n\n\n

Over the next few months \u2014 and over the next few years, if Biden\u2019s plan manages to pass in some form or another<\/a> \u2014 these forces will collide. Passing the tax bill is only the first step. The execution could be harder. No matter Democrats\u2019 intentions, they may find that their plan lets tech billionaires off the hook.<\/p>\n\n\n\n

And so the wealth management industry is brimming with a cocksure optimism that they can outsmart the bureaucracy.”<\/p>\n\n\n\n

https:\/\/www.vox.com\/recode\/22437084\/joe-biden-wealth-tax-plan-billionaires-capital-gains-wealth-management-loopholes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

“The new president wants the rich to pay much more in taxes, in order to finance a $1.8 trillion plan to invest in things like child care, education, and tax cuts for the poor that are meant to reduce inequality.<\/p>\n

But standing in the other corner of the ring is a sophisticated wealth management and accounting industry that is ready to fight, eager to temper every aggressive proposal and exploit every loophole to please their clients who pay them big bucks to defend every dollar.<\/p>\n

Over the next few months \u2014 and over the next few years, if Biden\u2019s plan manages to pass in some form or another \u2014 these forces will collide. Passing the tax bill is only the first step. The execution could be harder. No matter Democrats\u2019 intentions, they may find that their plan lets tech billionaires off the hook.<\/p>\n

And so the wealth management industry is brimming with a cocksure optimism that they can outsmart the bureaucracy.”<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[780,1033,141,1277],"class_list":["post-5581","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-joe-biden","tag-lobbying","tag-taxes","tag-wealth"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/5581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5581"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/5581\/revisions"}],"predecessor-version":[{"id":5582,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/5581\/revisions\/5582"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}