Biden's top tax rate on capital gains, dividends would be among highest in developed

[NewsFeeder]

Biden's top tax rate on capital gains, dividends would be among highest in developed world

President Joe Biden would raise the top tax rate on capital gains and dividends to almost 49%, between federal and state taxes. Only Ireland has a higher rate.

More @ CNBC...

 

[Bullitt]

The plan was just released and the new laws shouldn't affect most of us directly. Looks like cap gains and dividends remain the same for the middle class. The 26.5% was a number many analysts were calling a month ago when the plan first dropped. Even so, I doubt we'll see many corporations repatriating cash any time soon with the hike.

The top tax rate on dividends and long-term capital-gains would rise to 25% from 20% and would apply when income reaches $400,000 for individuals and $450,000 for married couples.

Large companies would face a series of tax increases. The top tax rate would rise to 26.5% from 21%. That is below the 28% that the Biden administration proposed but above the 25% that some Senate Democrats are seeking.

https://www.wsj.com/articles/democrats-release-details-of-tax-increase-11631539532?