With the current wealth-tax proposals by Warren and Sanders. the owner first of all would probably owe zero wealth tax unless she was worth more than $32 millio

With the current wealth-tax proposals by Warren and Sanders. the owner first of all would probably owe zero wealth tax unless she was worth more than $32 million, or $50 million for Warren. I doubt any local cupcake businesses are worth anywhere close to that much. Second, an actual business of that size would probably be owned by some other corporate entity created for that purpose, not an individual, and that entity would be paying its own taxes. Finally, Warren and Sanders both plan on beefing up the IRS to answer these kinds of questions, which will certainly be thorny for some kinds of assets.