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FOX Business Stuart Varney on President Biden’s economic policy plans, arguing proposed tax hikes will apply to more than just rich Americans.
“Don’t be fooled,” Varney said Monday. “The left will try to build political support by saying they’re only taxing the rich that’s not so middle America will also be told to pay up.”
The host offered his thoughts on how several of the president’s proposals would impact both individuals and small businesses.
“Just suppose mom and dad pass away and leave you their house, or their stock portfolio,” Varney said. “The value has probably gone up a lot. That is a capital gain, and the Biden administration would tax that gain immediately, the moment you inherit and they’ll tax it as ordinary income.”
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