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What U.S. Capital Gains Tax Reform Means For Investors

President Obama has put forth a new proposal to eliminate the “step-up” basis on inherited assets and subject more of their capital gains to taxation. What does this proposal mean for everyday investors and the economy at large?

When Donald Sterling, the embattled owner of the Los Angeles Clippers, was forced to sell his National Basketball Association franchise in the wake of racist comments, many wondered how this could be considered “punishment.” After all, the final sale price of the franchise came in at almost $2 billion, a significant mark-up from the original $12.5 million he paid for the team in 1981. Nevertheless, Sterling bitterly fought the league’s efforts to force the sale, and his opposition stemmed not just from reasons of personal pride.

Had Sterling, who turned 80 last year, held on to the team until his death, the franchise would have been passed onto his heirs on a… Read More …