House Democrats' capital gains tax proposal is better for the super rich than Biden plan

House Democrats' capital gains tax proposal is better for the super rich than Biden plan

House Democrats' capital gains tax proposal is better for the super rich than Biden plan - House Democrats proposed a top 25% federal tax rate on capital gains and dividends. It would apply to single taxpayers with over $400,000 of income and married couples with over $450,000. - President Joe Biden had called for a 39.6% top rate on the top 0.3% of taxpayers, who have more than $1 million of annual income. - The richest Americans tend to generate more wealth from appreciated stock and other assets. They also pass on larger inheritances than lower earners. The uber rich may be cheering House Democrats' proposed tax reforms on investment income relative to the Biden administration's earlier plan. The White House called for a 39.6% top federal tax rate on …
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