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Posted On: 01/31/2021 10:05:12 PM
Post# of 87012
Where did you get that info? That’s not my understanding of Biden’s tax plan.
What I’ve read concerning Biden’s plan is that all long-term capital gains taxes would remain the same (as 2021) with a maximum rate of 23.8% until the $1 million threshold is reached. After $1 million in profits, instead of remaining at 23.8% the tax rate jumps to 43.4%.
Also, I have never read anything about Biden trying to eliminate all capital gains taxes. IMO that would generate too much opposition from both parties.
What I’ve read concerning Biden’s plan is that all long-term capital gains taxes would remain the same (as 2021) with a maximum rate of 23.8% until the $1 million threshold is reached. After $1 million in profits, instead of remaining at 23.8% the tax rate jumps to 43.4%.
Also, I have never read anything about Biden trying to eliminate all capital gains taxes. IMO that would generate too much opposition from both parties.
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