task0778
Diamond Member
President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.
The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.
Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.
Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.
The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.
Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.
REPORT: Biden White House Considers Raising Capital Gains Tax To Nearly 44%
President Joe Biden's administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.
dailycaller.com
Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.