evidence: - Restore the top 39.6 percent tax rate for married couples with taxable income of more than $450,000 and single earners with taxable income above $400,000. The TCJA lowered the top rate to 37 percent.34 - Equalize the tax rate on capital income with the rate on work for millionaires. Currently, long-term capital gains and qualified dividends are taxed at a rate of 20 percent. The new rate would only apply to the extent that the taxpayer’s taxable income exceeds $1 million ($500,000 for married people filing separately) and would be indexed for inflation after 2024.35 - End the so-called stepped-up basis at death for assets that are passed on to heirs by taxing capital gains at death or the date of transfer.36 The proposal would also impose a 25 percent minimum tax on the total income of taxpayers with wealth exceeding $100 million. The tax would apply to income from unrealized capital gains and would function as a pre-payment of the tax that would ultimately be owed when the gain is recognized at sale or death.37 Taken together, these provisions would close loopholes that currently allow the very wealthy to avoid ever paying taxes on appreciated investments.