evidence: Third, we have a loophole in our tax system called "stepped-up basis." It’s also known as the trust fund loophole. For example, if I had a million dollars in stock that I bought and it made a million dollars and I was going to cash it in, I’d have to pay capital gain on that million dollars. [...] It’s not an inheritance tax. It was a tax was owed two — two seconds earlier. But that’s what "stepped-up basis" means. It’s a person passes away and leaves the stock in their — to their son or daughter; son or daughter don’t have to pay anything on that multimillion-dollar gain when they sell that stock. And that’s worth a lot of money.