[Hillary] Clinton has repeatedly called to put a larger tax burden on the wealthiest Americans to boost investment in infrastructure and job creation. The revision will put a 65 percent tax rate on estates valued at $1 billion or more per couple, the Clinton campaign said Thursday.
Yes, $1 billion is a lot of money. But that figure will be debated, and possibly lowered, if and when this proposal is taken up and debated. As well, the 65% rate will go through the same debate process. I know this because this proposal, like all other campaign proposals, are announced for campaign purposes by the candidates. After the election and legislative action begins, the details are worked out.
But make no mistake. If this proposal is debated, something will pass and millennials and many others will be affected.