Americans should be penalized for daring to improve their lot in life /sarcasm
Bloomberg News reported Thursday afternoon that Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans. The proposal would hike the capital gains rate to 39.6% for those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter. Reuters and the New York Times later matched the headlines.
“Biden’s proposal effectively doubles the capital gains tax rate on $1 million income earners,” said Jack Ablin, Cresset Capital Management’s founding partner and CIO. “That’s a sizable cost increase to long-term investors. Expect selling this year if investors sense the proposal has a chance of becoming law next year.”
There’s going to be a white sale on houses very soon and the stock market is going to tank.
It’s really going to suck for conservative states. People are going to flee places like California, New York, New Jersey, Illinois and other liberal states and then move to low cost conservative states.
Covet. Punish. COVET. Covet. Punish.
That is all liberals do.