Biden’s proposed capital gains tax rise will hit only richest 0.3%
Only 0.3% of taxpayers in the US would be hit by higher levies on their investments under the new capital tax plan, a senior Biden administration official said. Following major sell-offs in cryptocurrency markets amid reports of United States President Joe Biden's capital gains tax rise proposal last week, the Biden administration defended nearly doubling tax levies for only the “very, very richest.” A senior Biden administration official claimed that only 0.3% of taxpayers in the US would be affected by higher levies on their investments under the new capital tax plan. “There’s increasing evidence that over recent years in fact many, many of the returns at the very top are what they call above-market rates of return, rents and so on.
Coin Telegraph - 26th Apr 21:04