Biden Might Double Tax For Wealthy Investors, Is Crypto Affected? By CoinQuora

Biden Might Double Tax For Wealthy Investors, Is Crypto Affected?

CryptocurrencyApr 24, 2021 05:01AM ET

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Biden Might Double Tax For Wealthy Investors, Is Crypto Affected?

Markets crashed as Bloomberg reported that Biden might double capital gains tax
Bitcoin crashes below 50,000 USD as report of Biden’s plans went out
Altcoins also fell by small percentages as the news came out

In a report published in Bloomberg, the publication mentioned that US President Joe Biden wants to end the preferential U.S. tax treatment. This pertains to investment income that according to them has benefited the wealthy investors.

According to their sources,

“The White House plans to propose almost doubling the capital gains tax rate for those earning $1 million or more, to 39.6%”

In a Tweet, White House Chief of Staff Ron Klain, explained:

This proposal, which @JoeBiden campaigned on extensively, changes the tax rate for less tha...
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Comments (1)

Todd Gray Apr 24, 2021 6:57PM ET

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the Democrats would charge everyone a tax for polluting their world every time someone uses a restroom.

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Biden Might Double Tax For Wealthy Investors, Is Crypto Affected?

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