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Tips From the Pros: Is a Wealth Tax in Our Future?

Al W. King III explains the wealth tax and how it differs from U.S. income, estate and gift taxes.

A projected $8 trillion will be added to an already ballooning federal deficit (that is, currently over $27 trillion) over the next few years as a result of the coronavirus pandemic.1 These federal budget pressures will most likely only continue as a result of future uncertainties and congressional desires. Both state and city budgets are also under enormous economic duress due to the cost of the pandemic. Many advisors believe that all of these budget pressures will force

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