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Biden to propose almost doubling capital gains tax rate for wealthy individuals - Bloomberg

Published 04/22/2021, 01:37 PM
Updated 04/22/2021, 01:40 PM
© Reuters. FILE PHOTO: U.S. President Biden speak at the White House in Washington

© Reuters. FILE PHOTO: U.S. President Biden speak at the White House in Washington

© Reuters. FILE PHOTO: U.S. President Biden speak at the White House in Washington

(Reuters) - U.S. President Joe Biden will propose nearly doubling the capital gains tax rate for wealthy individuals to 39.6% which, coupled with an existing surtax on investment income, means that federal tax rates for investors could be as high as 43.4%, a Bloomberg reported said on Twitter on Thursday, without citing a source.

Latest comments

Only 1293 more days until we can flush this ***
They are going to completely ruin the Country and there will be no way back. That's the plan to make everyone the same and poor.
looooool
Sure Peter. The goal is to "ruin" their own country and make everyone poor. Do you hear how ridiculous you sound?
Ain't he dead yet?
It has always been liberals ' objectives of taxing the wealthies first, then ordinary citizens while enacting universal income and family leave so free loaders can live off taxpayers ' pockets. Just look at the West coast, NY, and other blue states. Socialism with utopian promises is coming that will cost people big time .
socialism she says...hilarity of that joke is just too much
It has always been the liberals ' objectives : raising taxes first on the wealthies, then on the ordinary citizens, enact family pay leaves and universal incomes so tax payers subsidize and pay people who do not work. Just look at the West coast, NY, and other liberal states. Socialism is coming true that costs everyone big time.
Capitalism ******** communism rules
"Just look at the West coast, NY, and other liberal states."  -- yes clearly the economies of NY and Califnorina can't compare with the economic wonders like Kansas, West Virginia or Mississippi
Ummm didnt the first Revolt happen because of taxes from England???Me thinks there shoukd be #2
so you support no taxation without representation?  so you are all for Statehood for DC right?
This is how it always starts. "Let's tax the rich" they say. The when they have convinced you that we need to punish people who are wealthy, the tax is slowly rolled out to all income brackets while the rich hire accountants to find "loopholes". Anyone who supports this kind of rhetoric should not be allowed to vote.
hostile Marxist takeover in progress!
United Socialist America
You got it what you wanted it
More money to flow into Emerging economies ... India !!!!
More money to flow into Emerging economies ... India !!!!
still market will go down...
and the exodus of money out of the us begins
Capital gains tax affects all investors. Tax 1040d cannot distinguish personal income
...fear mongering.
yeah... rich people exodus
I am paying 10% in my country
I think all the tax increases should by targeted to people with the last name trump or any family relatives.
why trump. he made us money
Powell made you money, not Trump.
Luckly i am not wealthy
you are wealthy? i dont think i am in that cass yet, so it want affect me.
what do you mean?you will never be rich?
if truth, I'll allocate my $ to Asian stock market.
if you are in the 1 pct wealthy, this want help you. and if you are, yuo cant spent your gains anyway, may be your wife can if you have one. so pack your gains tight to fit in the grave. or may be you need to built a pyramid first to get it all in.
if your a rich US citizen allocating to Asian stocks does you no good, except having to pay foreign taxes as well.
This guy is not fit for this position
why .because the rich is going to pay more. you are not rich so don't fight their battle.
why .because the rich is going to pay more. you are not rich so don'tfight their battle.
poor
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