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/biz/ - Business & Finance

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25222339 No.25222339 [Reply] [Original]

If congress passes Bidens law, then the federal income rate will be 40%. How will this effect capital gains?

Serious inly

>> No.25222376

Capital gains do not fall under income tax.

>> No.25223377

>>25222376
isnt it part of your AGI though?

>> No.25223571

>>25222339
Your taxes will only increase under Biden if you make 400k a year or more, and even then only the money you make after your initial 400k will be taxed higher.

>> No.25223789

>>25223571
>believing anything Beijing Biden says
In reality they are going to tax cap gains the same as income, thus closing the only remaining path of escaping wageslavery. Thank Christ Trump won.

>> No.25223857

>>25223789
I care about my money more than my blind political alliegances so I prefer to look at reality, thanks though.

>> No.25224066

Capital gains tax (20%) applies for long term holdings which is over one year. Short term gains are taxed as income, whichever your bracket is. Biden proposes a 40% marginal capital gains tax for long term gains over 1 million. Also a 40% marginal income tax rate over 400k. This ensures no new multi millionaires, only old money. Good lucks frens