Posted on 05/03/2024 10:37:38 AM PDT by knighthawk
If Joe Biden is successful in passing his massive capital gains tax rate hike, Americans in 11 states will next year be paying over 50 percent of some of the profits when they sell off their assets to the government.
The president's 2025 budget proposal includes increasing the top marginal rate on long-term capital gains dividends to 44.6 percent mark, which is the highest ever since the tax was implemented a century ago.
The current rate sits below 25 percent - so the increase represents a significant hike.
(Excerpt) Read more at dailymail.co.uk ...
Iowa’s tax system is idiotic.
Au contraire, Angelino.
Washington state now has a 7% cap gains tax.
Our state Constitution forbids a state income tax.
Our 100% Democrat state Supreme Court decided that capital gains are NOT income!
Jeff Bezos (Amazon founder) did not agree.
Bezos moved to Florida and promptly sold a huge chunk of Amazon stock for a huge profit.
But the democratic party and Ukraine are worthy causes, besides, Joey B say it’s patriotic.
Every day a new attack on the people of America. This guy needs to be flushed badly in November. And we are really talking about the Obama holdovers using Biden as the patsy “President”. Jill Biden needs to be arrested for Elder Abuse.
Wait, I didn’t see Connecticut on that list... Did I miss it?
who seems off their assets to the government? Or did the author mix up that sentence wording?
What state are you in?
Live in Maryland and am shocked we are not in the mix.
this is a complete misdirect. 44.6% is the federal govt. They are just trying to blame the states.
Massachusetts. They have evil “legislation” of their own apart from anything that the Biden Administration might have come up with.
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