Dear John,

This Tax Day, millions of Americans will comb through all their tax documents and shell out hundreds of dollars to ensure they don’t accidentally omit anything from the IRS.

Meanwhile, super-rich households will fail to report 21 percent of their income — and they’ll save another $40 billion through one tax loophole alone.

It’s called the stepped-up basis loophole, and it will soon enable the largest intergenerational transfer of wealth in history.

Our latest video reveals how this little-known loophole not only saves the super-rich billions of dollars each year, but allows them to hoard their wealth for generations.

Unless the stepped-up basis loophole is closed, rich baby boomers will pass on an estimated $58 trillion of wealth to their millennial children, and we will soon have a large class of hugely rich people who have never worked a day in their lives.

Close this loophole, and we prevent America from becoming an aristocracy.

It should be a no-brainer.

Thanks for watching,

Robert Reich
Inequality Media

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