@CoffeeAddict
I have not read the proposed plan
I do not know what ‘special tax breaks in the real estate industry for people making $400K+’ are.
That said, the OP is mis-characterizing the Plan and how it is to be funded. I did a quick Google search and find:
“Biden’s campaign says the 10-year plan will be paid for by “rolling back unproductive and unequal tax breaks” for real-estate investors making more than $400,000, as well as increasing “tax compliance for high-income earners.”
The tax breaks are not in the real estate industry per se, but for those investors in Real Estate making more than $400K per year.
I read this to mean profits of more than $400K per year from Real Estate Investments, not that one’s income is $400K+ and has any profits from real estate investments.
Please do not worry for CTL. #1 I do not personally profit more than $400K annually from Real Estate Investments. As a Trust and Family attorney, most of our real estate holdings are held in various trusts.
Furthermore, to quote my late father Z”L, when he’d be writing a hefty check every April 15th. “America is a great country, you’ve got to make it to pay it.”
It is both my honor and privilege to make a large income and pay taxes on it.
BTW, I filed my taxes July 14th. This year, I was able to restructure things due to the Trump Tax changes and restore the 25K that had not been there for Tzedaka in 2018. B”H our philanthropy increased to its highest level ever in 2019.