‘These are the really dangerous Biden proposals,’ Americans for Tax Reform economist says
President Biden’s latest proposal to hike the top capital gains tax rate to its highest level in more than a century is facing heavy criticism from experts who warn such an action could significantly harm the U.S. economy.
According to a report issued by the Treasury Department, led by Secretary Janet Yellen, the president’s proposed fiscal year 2025 budget would increase the top marginal rate on long-term capital gains and qualified dividends to a staggering 44.6%. A capital gains tax hike of that magnitude would take the rate to its highest level since it was first introduced in the early 1920s.
“Investment is the real driver of economic growth,” E.J. Antoni, an economist and research fellow at The Heritage Foundation, told Fox News Digital. “Investment is what gives you productivity gains. Investment is where you get factories and machines — it’s where businesses are able to provide their workers with tools and equipment that allow them to increase their productivity, to increase wages, etc.”
Wake up people everything he’s doing is to bring this entire country to the ground. Get out and vote this November this is our last chance. Trump 2024.
That’s correct 7:38, that’s the exact same agenda barack HUSSEIN obama was using. Hillary would have done the same thing as biden is doing and we would have been destroyed by 2020. However Trump, the candidate with no chance in Hell, interrupted the demise of our country. We must get him back in office. I truly believe he is the only person that has the will and ability to keep us free from these thieves that want to steal our freedom and money by ignoring the constitution, which was written to prevent this kind of corruption.
As he is surrounded by people who understand finance, it has to be that this is a conspiracy to weaken, then demolish our nation. It’s treasonous.
Why should rich investors pay less on capital gains than middle class wage earners pay on their incomes? It’s crazy how low the long term capital gains tax rates are. They, like short term capital gains, should just be taxed the same as regular income.
Not could crush. Will crush the economy MORE.
How 11:24? Why should rich investors pay less on capital gains than middle class wage earners pay on their incomes? It’s crazy how low the long term capital gains tax rates are. They, like short term capital gains, should just be taxed the same as regular income.