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Biden plan would nearly double capital gains tax for wealthy
- throwawaysea 6y agoNote: For high income earners in high-tax states, rates on capital gains could be above 50%. For New Yorkers, the combined state and federal capital gains rate could be as high as 52.22%. For Californians, it could be 56.7%.
- chrispeel 6y agoI'm ok with high capital gains taxes for short-term and maybe even medium-term assets. I support capital gains rates that decrease with the length the asset is held, such that investors are always incentivized to hold longer: https://chrispeel.net/2021/02/02/a-lpf-on-the-market/ https://chrispeel.net/2021/02/02/a-lpf-on-the-market/
- codevark 6y agoIn my https://www.nationstates.net/ https://www.nationstates.net/ country, average taxes are close to 80%. And we're doing fine, thank you.
- staticautomatic 6y agoI don’t understand these gymnastics of tying the rate to the person’s wealth. It seems to me that we should just tax capital gains as ordinary income if at least half your income comes from capital gains. Is this really so hard?