Biden shocked markets this week with a proposal to nearly double the capital gains tax. Here's what the move could mean for high-flying tech stocks, according to 5 experts. (msn.com) Ok, so let's pretend you have a Trust Fund passed down to you and your children to pass on multi-generational wealth. Now, this tax only affects the rich, defined as making $1 million or more a year. So, let's pretend that you're rich. What are you going to do??? Let's suppose that your Trust Fund isn't earning enough to meet solvency at the new, higher tax rate? Why then, your multi-generational Trust Fund is going to start to shrink. That means you or your posterity is going to find themselves poor again. This wasn't supposed to happen. And, you might be even worse off if the Democrats pass a wealth tax.