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Isn't Joe Biden planning to make the top capital gains rate the same as the short term rate?
by BitwiseFool 5y ago
Isn't Joe Biden planning to make the top capital gains rate the same as the short term rate?
- kinghajj 5y agoFor long-term capital gains above $1m, yes. I'm not lucky enough (yet?) for that to apply to me this year anyway. Plus, that change would probably apply from 2022 onwards, so there's a chance that if another crypto bull run happens later this year (a la 2013), one could still cash out gains under the current rate structure. I also wouldn't be surprised if there's some negotiation with Republicans to raise the proposed bracket from $1m to $5-10m: pull out enough sad old widows with homes that have appreciated $1.5m+ such that the $250k exemption would still put them in the $1m+ bracket, etc.
- standardUser 5y agoOnly for households with earnings over $1 million. So no, not for the vast majority of people.