Reported 5 months ago
The article discusses how President Biden's proposed tax plan aims to increase the top marginal rate on long-term capital gains and qualified dividends to 44.6%, which would be nearly a 100% increase from the current rate of 23.8%. The author argues that such a significant tax hike could have negative implications for the stock market, with potential consequences including investors selling off highly appreciated stock positions, business owners facing challenges in growing their enterprises, and a potential slowdown in the creation of new businesses. The article emphasizes the need for Americans to closely study the proposed tax changes and their potential impacts on the economy and investments.
Source: YAHOO