04/23/2021
Today, the market took a hit following the news of President Joe Biden’s capital gains tax proposal to tax the wealthy nearly as high as 43.4%.
Bloomberg stated that Biden will tax capital gains for taxpayers earning more than $1 Million at a personal income tax rate. Biden wants to raise the rate from 37% to 39.6%, adding the 3.8% Obamacare tax on investment, the federal rate will now be at 43.4%.
This news shook up the market, what do you think this holds for our future?
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