It’s important to remember that this is just a proposal, and even if passed, it will likely be negotiated to be a less dramatic change (as with all legislation

It’s important to remember that this is just a proposal, and even if passed, it will likely be negotiated to be a less dramatic change (as with all legislation in the US). The problem with this particular proposal is it would hit most members of congress (on both sides of the aisle) and their friends right in the pocketbook. Being flawed humans, the people in congress rarely vote against their personal self interest. I expect to see at most 30% cap gains rates and likely for people making $5M or more, with carve outs for about 15 special interest groups to the point where it’s basically ineffectual.