What Are the Presidential Candidates’ Positions on Estate Taxes?


With the Presidential race in full swing, we thought it would be interesting to take a look at the candidates’ positions on a subject near and dear to our hearts, estate taxes!

The Tax Foundation, an independent tax policy research foundation, has been tracking the candidates’ proposals for all kinds of taxes.  As it pertains to estate planning, here is the latest information we could find:

Bush – Repeal both the estate and gift tax; set the top capital gains rate at 20%; eliminate the net investment income surtax and tax carried interest at ordinary income rates

Christie – No position as of yet – Has vowed to eliminate the estate tax in NJ

Carson – Repeal both the estate and gift tax; eliminate taxes on capital gains and investment income

Clinton – Would increase the top estate tax rate to 45%; lower the tax exclusion rate to $3.5 million; raise rates on medium term capital gains (investments held less than 6) to between 24-39.6; proposes a 4% surtax on income over $5m; tax on high frequency financial transactions; tax carried interest at ordinary income rates

Cruz – Repeal both the estate and gift tax; lower rates on capital gains and dividend income to 10%

Kasich – Repeal estate tax; no position on gift; lower the rate on long term capital gains to 15%

Rubio – Repeal estate tax; eliminate taxes on capital gains and dividend income

Sanders – Increase the estate tax to 65%; lower the estate tax exclusion to $3.5 million; tax capital gains and dividend income at ordinary income rates for households with incomes over $250,000; institute a financial transactions tax; tax carried interest at ordinary income rates; off setting credit for low income Americans

Trump – Repeal the estate and gift tax; set the top capital gain rates at 20%; eliminate the net investment income surtax and tax carried interest at ordinary interest income rates

 

 

 

 
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