Biden Calls for 44.6% Capital Gains Tax Rate

[1srelluc]

Biden Calls for 44.6% Capital Gains Tax Rate, Highest Capital Gains Tax Since Its Creation in 1922 - Americans for Tax Reform

And don’t forget to add the state capital gains tax: the Biden combined federal-state rate would exceed 50% in many states President Biden has formally proposed the highest top capital gains tax in over 100 years. Here is a direct quote from the Biden 2025 budget proposal: “Together, the...

www.atr.org

And don’t forget to add the state capital gains tax: the Biden combined federal-state rate would exceed 50% in many states

President Biden has formally proposed the highest top capital gains tax in over 100 years.

Here is a direct quote from the Biden 2025 budget proposal: “Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.”

Yes, you read that correctly: A Biden top capital gains and dividends tax rate of 44.6%.

Under the Biden proposal, the combined federal-state capital gains tax exceeds 50% in many states. California will face a combined federal-state rate of 59%, New Jersey 55.3%, Oregon at 54.5%, Minnesota at 54.4%, and New York state at 53.4%.

Geezus, almost every day he has to come up with something to hate him more. FJB. Of course they'll be loopholes for his buddies.

I would like to think that it would never pass the House.

Then again they just sent billions to other countries even though they said they would have to have border reform done first.

More:

MSN

 

[odanny]

Geezus, almost every day he has to come up with something to hate him more. FJB.

BDS.

 

[Dont Taz Me Bro]

Stupid proposal and highly unlikely to pass. It would create a huge disincentive to invest. I'm not a millionaire and I invest in stocks, particularly those with dividends. I'd like to reach a point that I can actually live off my dividends when I retire. Plenty of middle class and upper income people do. The Democrats talk as if only millionaires and billionaires are in the market.

 

[candycorn]

Biden Calls for 44.6% Capital Gains Tax Rate, Highest Capital Gains Tax Since Its Creation in 1922 - Americans for Tax Reform

And don’t forget to add the state capital gains tax: the Biden combined federal-state rate would exceed 50% in many states President Biden has formally proposed the highest top capital gains tax in over 100 years. Here is a direct quote from the Biden 2025 budget proposal: “Together, the...

www.atr.org

And don’t forget to add the state capital gains tax: the Biden combined federal-state rate would exceed 50% in many states

President Biden has formally proposed the highest top capital gains tax in over 100 years.

Here is a direct quote from the Biden 2025 budget proposal: “Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.”

Yes, you read that correctly: A Biden top capital gains and dividends tax rate of 44.6%.

Under the Biden proposal, the combined federal-state capital gains tax exceeds 50% in many states. California will face a combined federal-state rate of 59%, New Jersey 55.3%, Oregon at 54.5%, Minnesota at 54.4%, and New York state at 53.4%.

Geezus, almost every day he has to come up with something to hate him more. FJB. Of course they'll be loopholes for his buddies.

I would like to think that it would never pass the House.

Then again they just sent billions to other countries even though they said they would have to have border reform done first.

More:

MSN

Well, when you have a dysfunctional opposition party who can’t agree if it’s partly cloudy or partly sunny, Biden and the democrats see an opportunity.

I think that is a way--way--way--WAY to high a tax rate for CG but this is negotiation. Typical democrat nonsense...if they get behind it and get, lets say 30% passed...they won’t understand that it will still be spun as a loss because they didn’t get the 44.6%.

As for the politics of it goes though...when the GOP is wounded via their circular firing squad...it would seem like an opportune time to see what they can get.

 

[candycorn]

Stupid proposal and highly unlikely to pass. It would create a huge disincentive to invest. I'm not a millionaire and I invest in stocks, particularly those with dividends. I'd like to reach a point that I can actually live off my dividends when I retire. Plenty of middle class and upper income people do. The Democrats talk as if only millionaires and billionaires are in the market.

Just out of curiosity...how many shares of stock would you have to have (on average) to retire on dividend income? What would the value of that portfolio have to be?

Just ball park it.

 

[Dont Taz Me Bro]

Just out of curiosity...how many shares of stock would you have to have (on average) to retire on dividend income? What would the value of that portfolio have to be?

Just ball park it.

To live off of, probably well over a $1,000,000. It all depends on the mix of stocks being purchased.

 

[Polishprince]

Well, when you have a dysfunctional opposition party who can’t agree if it’s partly cloudy or partly sunny, Biden and the democrats see an opportunity.

I think that is a way--way--way--WAY to high a tax rate for CG but this is negotiation. Typical democrat nonsense...if they get behind it and get, lets say 30% passed...they won’t understand that it will still be spun as a loss because they didn’t get the 44.6%.

As for the politics of it goes though...when the GOP is wounded via their circular firing squad...it would seem like an opportune time to see what they can get.

I have a better idea. Why not REDUCE tax rates on the people instead of raising them?

Such a move would help stimulate the economy, and actually increase the amount of taxes paid due to the increased economic activity.

Punishing people for success is no way to promote success, IMHO.

Maybe the government can also get rid of wasteful spending as well? Just a thought

 

[Harpy Eagle]

Stupid proposal and highly unlikely to pass. It would create a huge disincentive to invest. I'm not a millionaire and I invest in stocks, particularly those with dividends. I'd like to reach a point that I can actually live off my dividends when I retire. Plenty of middle class and upper income people do. The Democrats talk as if only millionaires and billionaires are in the market.

This rate would only apply to you if you had more than a million dollars in taxable income.

 

[candycorn]

I have a better idea. Why not REDUCE tax rates on the people instead of raising them?

A lower to middle class tax cut would be great.

Such a move would help stimulate the economy, and actually increase the amount of taxes paid due to the increased economic activity.

Didn’t work under the blob. The deficit exploded and the rich got all of the benefits.

Punishing people for success is no way to promote success, IMHO.

Some truth to that. I think the ask is way to big.

Maybe the government can also get rid of wasteful spending as well? Just a thought

LOL.... You mean like a whole squadron of fighter jets and fleets of warships that never fire their guns? Just a thought.

 

[odanny]

To live off of, probably well over a $1,000,000. It all depends on the mix of stocks being purchased.

It really depends on the divdend rate, this varies across every stock, some not paying any dividends. I've seen people load up on stocks with high dividend rates just for that reason, hold and leave alone.

 

[mamooth]

A Capital Gains

I'd like to reach a point that I can actually live off my dividends when I retire.

Capital Gains taxes are indexed.

The 44.6% would apply to the highest tax bracket.

The middle class, or even the moderately wealthy would not be cashing out enough to hit the highest rate bracket.

 

[Polishprince]

This rate would only apply to you if you had more than a million dollars in taxable income.

First they came for the Billionaires, but since I was not a billionaire I did not stand up for them.

This is a slippery slope, Harpy.

 

[Harpy Eagle]

First they came for the Billionaires, but since I was not a billionaire I did not stand up for them.

This is a slippery slope, Harpy.

you are not wrong, just pointing out the facts of this case.

 

[odanny]

First they came for the Billionaires

That would be a first.

 

[Blaster]

Why penalize people that are successful?

 

[Toddsterpatriot]

Biden Calls for 44.6% Capital Gains Tax Rate, Highest Capital Gains Tax Since Its Creation in 1922 - Americans for Tax Reform

And don’t forget to add the state capital gains tax: the Biden combined federal-state rate would exceed 50% in many states President Biden has formally proposed the highest top capital gains tax in over 100 years. Here is a direct quote from the Biden 2025 budget proposal: “Together, the...

www.atr.org

And don’t forget to add the state capital gains tax: the Biden combined federal-state rate would exceed 50% in many states

President Biden has formally proposed the highest top capital gains tax in over 100 years.

Here is a direct quote from the Biden 2025 budget proposal: “Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.”

Yes, you read that correctly: A Biden top capital gains and dividends tax rate of 44.6%.

Under the Biden proposal, the combined federal-state capital gains tax exceeds 50% in many states. California will face a combined federal-state rate of 59%, New Jersey 55.3%, Oregon at 54.5%, Minnesota at 54.4%, and New York state at 53.4%.

Geezus, almost every day he has to come up with something to hate him more. FJB. Of course they'll be loopholes for his buddies.

I would like to think that it would never pass the House.

Then again they just sent billions to other countries even though they said they would have to have border reform done first.

More:

MSN

Make it 100%, pussy.

 

[Toddsterpatriot]

Why penalize people that are successful?

They got tired of just penalizing blacks.

 

[1srelluc]

BDS.

Negative, I just don't like the Putz.....When he's gone I won't even think about him.

 

[Blaster]

Make it 100%, pussy.

Do you hate successful people?

 

[Blaster]

They got tired of just penalizing blacks.

Blacks are rewarded by the government and not penalized.