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There is nothing “moderate” about Joe Biden’s proposals to tax high-income investors. First, the top individual tax rate for income above $400,000 would be raised to 39.6% from 37%.
The next step up is those with taxable income up to $518,900. Those individuals are taxed at a 15% rate. Finally, the highest capital gains rate is 20% for everyone above $518,900.
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Vice President Kamala Harris will propose lower capital-gains tax rate increase than President Joe Biden in his annual budget in rare policy break. Anna Wintour steps down as Vogue editor-in-chief.
It turns out that Joe Biden was not, in fact, joking during his presidential run when he told everyone that he planned to tax the bejesus out of wealthy investors. Bloomberg reports Thursday that ...
Harris has proposed raising the top capital gains rate for those earning in excess of $1 million to 28% for long-term capital gains taxes — less than Biden’s proposal of 39.6%.