Insights Is There a Wealth Tax in Your Future?

Stephen A. Baxley

May 02, 2019

Highlights

  • A variety of new tax proposals focus on wealthy Americans.
  • Among the many proposals are a wealth tax, a financial transactions tax, and a top individual tax rate of 70%.
  • While none of these tax plans are likely to be enacted before the 2020 election, we could, depending on that election’s outcome, eventually see higher tax rates and reduced exemptions within the current tax system. However, new taxes, such as a wealth tax, would face significant logistical and constitutional challenges.

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Director of Tax and Financial Planning
Steve is responsible for delivering strategic tax consulting and tax management services to Bessemer clients and their related entities.