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The US is a long way away from trying to "soak" anyone. We have a top rate on long-term capital gains of 20%.
by crooked-v 1y ago
The US is a long way away from trying to "soak" anyone. We have a top rate on long-term capital gains of 20%.
- nostromo 1y agoThat's pretty average (which is a good thing). Japan: 20% China: 20% India: 13% UK: 24% Italy: 26% Germany: 26% France: 30% Then there's Canada of course... 50% with a proposal to make it 66% in 2026. Let's see how that works out!
- pseudo0 1y agoIsn't it a 50% inclusion rate for capital gains in Canada? That works out to a maximum tax rate of 27% in the top tax bracket. And they canceled the proposed increase to a 66% inclusion rate, which is probably smart considering how a ton of rich Canadians already move to Florida.
- ehfeng 1y agoYou should include state taxes, which in CA's case tops at 13.3% and 3.8% NII, bringing the total to 37.1%.
- lern_too_spel 1y agoNot that increasing taxes on capital gains is the way to go, but America's wealthy aren't going to move to China or India.
- presto8 1y agoWith NIIT, it's an additional 3.8% on top of that (for the highest income filers). So 23.8%. https://www.irs.gov/newsroom/questions-and-answers-on-the-net-investment-income-tax https://www.irs.gov/newsroom/questions-and-answers-on-the-ne...