Of course just like with the personal income tax you eventually reach a point of diminishing returns (where revenues go down when the rates go higher) and according to Congress's Joint Committee On Taxation that rate is 28%. Hopefully when the White House has to hammer out an agreement on this the rate gets trimmed down to 30% or so (close enough for government work) 'cause Biden's rate won't just result in less money it'll also chase away companies and that won't be good for anybody.
Monday, April 26, 2021
On Biden's Plan to Raise the Capital Gains Tax Rate to a Whopping 43.4% (Making it One of the Highest On the Planet - https://taxsummaries.pwc.com/quick-charts/capital-gains-tax-cgt-rates)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment