In reply to Old McDonald
That's not important because you seem to be forgetting the first rule of Democrat Reform - incrementalism.
It's starts with 7 figures. When that is exhausted, the number will drop or they will go directly after buckets of money like 401ks with incrementalist laws for that.
But you know this.
Old McDonald said:important bit of context here everyone seems to be ignoring. what % of investors are clearing seven figures in capital gains a year?chris1515 said:
Since the OP didn't include any source...
https://www.kiplinger.com/taxes/biden-calls-for-doubling-capital-gains-tax-rateQuote:
Biden's FY25 budget proposal would nearly double that capital gains tax rate to 39.6%. That proposed capital gains rate increase would apply to investors who make at least one million dollars a year.
That's not important because you seem to be forgetting the first rule of Democrat Reform - incrementalism.
It's starts with 7 figures. When that is exhausted, the number will drop or they will go directly after buckets of money like 401ks with incrementalist laws for that.
But you know this.