President Biden Introduces $ 1.8 Trillion Proposal, With Capital Gains Tax Rate Of 39.6%

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In a statement released by the White House on Wednesday, the President of the United States, Joe Biden, has announced a $ 1.8 trillion proposal, covering education and helping families, funded by tax increases for the wealthy..

The tax rate on capital gains will be 39.6%.

Additional comments:

“The plan too will eliminate long-standing loopholes, including lower taxes on capital gains and dividends for the rich, which reward wealth before work. “

“The President’s Plan restores the tax level higher than what it was before the 2017 law, returning the rate to 39.6%, and it applies only to those within the richest one percent. “

“Households that earn more than $ 1 million will pay the same 39.6% rate on all their income, matching the rate paid on investment returns and wages.”

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