capital gains tax proposal reddit

Our tax filings is normally just our salaries. With this new plan that rate will increase to a whopping 396--nearly.

Biden Estate Tax 61 Percent Tax On Wealth Tax Foundation

Biden recently announced they are proposing raising the capital gains to 396 to those who make over 1 million.

. Most proposed changes will be effective on December 31 2021. I see that theyre saying now that anyone making over a million would see capital gains taxes go up to about 40 and then state taxes on top of that. The capital gains tax proposal would be effective for gains required to be recognized after the date of.

Capital Gains tax proposal buying opportunity. As it stands right now those in the high-income tax rate currently see only a 20 capital gains tax on certain assets. The Biden tax increases Biden budget proposal would come at the cost of economic growth harming investment incentives at precisely the wrong time.

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Read This On The New Capital Gains Tax Proposal On Page 61 In Other Words They Want To Tax Anybody That Gain Over 1 000 000 37 In Which It Will Help Prevent Economy