Now a Business or Stocks will become stagnant because of high capital gains rates as people will never sell and pay the high tax.
Any wonder why the stock market was below 1,000 on the Dow before Reagan.
Capital gains taxes would go from 15% now to 32.8% with this hideous deal. Call your reps and demand no tax hikes and real spending cuts. More money flowing into D.C. will mean no incentive to cut spending.
don’t worry - under the Obama administration real estate and the stock market have both done poorly enough that there will be no capital gains to tax— so this isn’t really a tax increase. I only wish this was /s