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Biden Proposes Almost Double Capital Gains Tax to HNWIs: Report

President Joe Biden proposes to almost double the capital gains tax rate on wealthy Americans to 39.6%. Bloomberg News reported on Thursday.. Combined with the existing additional tax on investment income, the federal tax rate for investors could be as high as 43.4%, Bloomberg said. Bloomberg quoted those familiar with the proposal, saying the plan would raise the capital gains rate for those who earn more than $ 1 million to 39.6%. The president will announce a proposal next week as part of a tax increase to fund social spending in the upcoming “American Family Planning,” Bloomberg said.U.S. stocks
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Biden Proposes Almost Double Capital Gains Tax to HNWIs: Report

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