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)

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.

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