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Spin Zone / Re: Biden Calls for 44.6% Capital Gains Tax Rate
« on: April 25, 2024, 12:43:21 PM »This is an economic nightmareIt would be a nightmare if enacted, but it comes from a socialist wish-list that has yet (fortunately) to make much headway. The article posted by Lucifer helpfully linked to the Administration 2025 revenue proposal document:
https://home.treasury.gov/system/files/131/General-Explanations-FY2025.pdf#page86
I found the same 44.6% marginal rate note in the revenue proposals for 2024:
https://home.treasury.gov/system/files/131/General-Explanations-FY2024.pdf#page86
Both contain the 44.6% sentence at the bottom of page 80 on the 2025 revenue proposals and page 79 on the 2024 proposals.
Could not find it in the 2023 revenue proposal document. The following link appears to be a repository for such proposals going back to 1990:
https://home.treasury.gov/policy-issues/tax-policy/revenue-proposals