President Biden's Proposal to Double Capital Gains Tax Sparks Fierce Debate

President Biden’s Proposal to Double Capital Gains Tax Sparks Fierce Debate

by

Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double, Biden capital gains, Biden tax, Biden double tax, capital gains tax double,

Breaking: According to a plan leaked to Bloomberg, President Biden has issued a proposal seeking to double the capital gains tax rate from 20% to 39.6% for people making over a million dollars. Additionally, investors at or above the one million dollar threshold would also be required to pay 39.6% on their longterm investments, up from the current rate of 20%. Biden has also put forward a corporate tax rate hike to 28% from 21%. The message according to Biden: The rich must pay their fair share. But does this hefty piece of legislation have any shot at passing? Or is it all just political theater ahead of election season?

Level Up Your Trading

Get a custom-designed trading program tailored to your individual needs, skill level, and schedule.

President Biden’s recent proposal to double the capital gains tax rate from 20% to 39.6% has been met with criticism from many who argue that this policy will have negative consequences for the economy. Proponents argue that this is only a tax on the wealthy. Critics argue that increasing taxes on millionaires, billionaires, corporations, and rich investors will only serve to stifle innovation and hinder economic growth. Additionally, House Speaker Kevin McCarthy has expressed his opposition to the proposal, stating that he does not believe that raising taxes is the answer to the country’s economic woes.

While Biden’s administration has argued that the proposal is necessary to reduce the deficit and increase revenues by $3 trillion over the next decade, many remain skeptical.

Let us show you how to find Unusual Options Activity

Everything you’ve ever wanted to know about Unusual Options Activity—in one convenient insider’s guide.

Some economists argue that the proposal will ultimately hurt the middle class, who are often forced to bear the brunt of tax increases — even those that are not directly targeted at them. Furthermore, some have expressed concern that the proposal will discourage investment and entrepreneurship, possibly even creating a selling event for institutional investors, leading to a decrease in economic growth and job creation.

Despite the fact that polls have shown a majority of Americans favor taxes on the wealthy and large corporations,

“…it seems unlikely that Biden’s proposal will be able to pass Congress, given that the Republicans now control the House of Representatives.”

It’s more likely that this is just one more move in the large game of Chess called “preparing for an election cycle.”

As such, it remains to be seen whether this controversial proposal will ultimately become law, or whether it will be met with continued resistance and opposition from those who believe that it is ultimately harmful to the economy and the American people.

Read More

Subscribe to Rebel Roundup for your weekly digest of market highlights and free trading lessons.
We’re on a mission to empower retail traders with the tools they need to succeed.

Read Next

Join a growing community of traders with Market Rebellion

Join the thousands of users daily!

Unlock UOA Trading Secrets

Watch our free 7-minute tutorial on how pro traders harness unusual option activity.

By clicking Get Access, you agree to receive marketing offers from Market Rebellion, and its affiliates, subsidiaries, or agents in the form of emails, pre-recorded messages, text messages, and autodialed calls at the email address and phone number provided above, even if the phone number is present on a state or national Do Not Call list. You recognize that you are not required to provide this consent as a condition of purchase and that you can withdraw consent at any time. Data rates may apply. By clicking below, you also agree to our  Terms of Use  and acknowledge our  Privacy Policy.