Capital Gains and Capital Pains in the House Tax Proposal

2 weeks ago 9
PR Distribution

It hasn’t been noticed much, but projected changes to capital-gains taxes person bully quality for immoderate of the highest-earning Americans and atrocious quality for those earning betwixt $400,000 and $1 million.

The bully news, for the highest earners: The House Ways and Means Committee didn’t follow the Biden administration’s connection to rise the apical complaint connected semipermanent superior gains to 43.4% for radical with income of $1 cardinal oregon more. That would person been a immense summation implicit the existent apical complaint of 23.8%, which consists of a 20% complaint positive a 3.8% surtax for many. (Long-term gains are those connected income of assets held longer than a year.)

Read Entire Article