Business
Biden eyeing capital gains tax as high as 43.4pc for wealthy – The Australian Financial Review
President Joe Biden campaigned on equalising the capital gains and income tax rates for wealthy individuals, and he’s poised to detail his proposals next week.
White House Press Secretary Jen Psaki, asked about the capital-gains plan at a press briefing Thursday, said, were still finalising what the pay-fors look like.
Biden is expected to release the proposal next week as part of the tax increases to fund social spending in the forthcoming American Families Plan.
Other measures that the administration has discussed in recent weeks include enhancing the estate tax for the wealthy.
Biden has warned that those earning over $US400,000 can expect to pay more…
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