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RebelExpress38
Ole Miss Fan
In your base, killin your dudes
Member since Apr 2012
10978 posts

“Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
CNBC LINK

quote:

Bloomberg News reported Thursday afternoon that Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans. The proposal would hike the capital gains rate to 39.6% for those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter.

"Biden proposal effectively doubles the capital gains tax rate on $1mm income earners," said Jack Ablin, Cresset Capital Management's founding partner and CIO. "That's a sizable cost increase to long-term investors. Expect selling this year if investors sense the proposal has a chance of becoming law next year."

Growth stocks, which could come under selling pressure on higher capital gains taxes, led the intraday decline on Thursday with shares of Tesla and Amazon falling. The iShares S&P 500 Growth ETF fell 0.5%, more than its value counterpart.

"Markets are highly concentrated in small number of growth names," said Mark Yusko, CEO & CIO of Morgan Creek Capital Management. "Those stocks have driven most of the gains over past few years and many investors have significant gains at current prices. Fear of higher capital gains rate could motivate selling of those names and trigger market correction, so some investors will try and front run that potential move by selling or hedging through short selling."


lsuoilengr
USA Fan
Member since Aug 2008
3781 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
Raise taxes to build bridges to nowhere. What an idiot


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935
lsu777
LSU Fan
westlake
Member since Jan 2004
18111 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
quote:

Bloomberg News reported Thursday afternoon that Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans. The proposal would hike the capital gains rate to 39.6% for those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter.


quote:

"Biden proposal effectively doubles the capital gains tax rate on $1mm income earners,"


well all the new bitcoin millionaires better not fricking create a taxable event.

man frick biden. that is horrible.gonna take 43% for federal alone....man frick him!!


MrJimBeam
New Orleans Saints Fan
Member since Apr 2009
6208 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
I am SHOCKED


TorchtheFlyingTiger
North Carolina St. Fan
It's Germans
Member since Jan 2008
1169 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
I s this why indexes just gave up early day gains S&P is down 1% in an hour?


LSUFootballLover
USA Fan
BR
Member since Oct 2008
2816 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
Stolen elections have consequences.


JDPndahizzy
LSU Fan
JDP
Member since Nov 2013
2690 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
quote:

I am SHOCKED


Right? Did anyone actually expect different?


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221
Diseasefreeforall
Miami (FL) Fan
St Clair Co
Member since Oct 2012
2243 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
It's gonna hurt American innovation when it keeps promising growth companies from raising money. It could kill small-cap clinical stage biotechs that could produce life-saving drugs. They rely heavily on issuing shares in the years it takes to get FDA approval.


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294
boogiewoogie1978
Arkansas Fan
Little Rock
Member since Aug 2012
12127 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
He said he would do this. Surprised its not 50%


Dennis Celery
Member since Apr 2021
708 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
frick this government


Shamoan
USA Fan
Member since Feb 2019
2717 posts
 Online 

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
well, eventually, someone has to pay for all the free shite.


VADawg
USA Fan
Jacksonville
Member since Nov 2011
30090 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
quote:

frick this government


frick every single person who voted for these people. How in the hell did anyone actually think this would be a good thing?


RebelExpress38
Ole Miss Fan
In your base, killin your dudes
Member since Apr 2012
10978 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
quote:

s this why indexes just gave up early day gains S&P is down 1% in an hour?


Yes

Image: https://pbs.twimg.com/media/EzmBI-PXIAIiaVB?format=jpg&name=medium


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321
UltimaParadox
Alabama Fan
Huntsville
Member since Nov 2008
20554 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
Is it on one million of income?

Or 1 million in capital gains?


CecilShortsHisPants
New Orleans Pelicans Fan
One Foty Fo uh uh Magnolia Screet
Member since Oct 2012
2105 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
I don’t want to be rich anymore


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211
MattA
Member since Nov 2019
724 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
quote:

Is it on one million of income?

Or 1 million in capital gains?



Yes...



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284
Auburn1968
Auburn Fan
NYC
Member since Mar 2019
7887 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
President* Biden and his merry band of comrades really know how to throw a wet blanket on the investment atmosphere and economy.


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233
ninthward
LSU Fan
Boston, MA
Member since May 2007
17633 posts
 Online 

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
quote:

frick every single person who voted for these people. How in the hell did anyone actually think this would be a good thing?
Liberals do not work.


Ancient Astronaut
USA Fan
Member since May 2015
21465 posts

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
What a reckless plan.


ninthward
LSU Fan
Boston, MA
Member since May 2007
17633 posts
 Online 

re: “Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans”
so this will kill the housing market right?


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