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Title: "This Is Sheer Idiocy": Capital Gains Tax Can Exceed 100 Percent Under Biden Proposal
Source: [None]
URL Source: https://www.zerohedge.com/markets/s ... 0-percent-under-biden-proposal
Published: Mar 16, 2023
Author: Tyler Durden
Post Date: 2023-03-16 18:50:28 by Horse
Keywords: None
Views: 99
Comments: 1

Authored by Liam Cosgrove via The Epoch Times (emphasis ours),

President Joe Biden’s proposed capital gains tax increase could result in an effective tax rate of over 100 percent after adjusting for inflation, according to estimates by economist Arthur Laffer, a former adviser to Ronald Reagan. The increase would more than double the tax investors pay on investments held longer than one year.

Authored by Liam Cosgrove via The Epoch Times (emphasis ours),

President Joe Biden’s proposed capital gains tax increase could result in an effective tax rate of over 100 percent after adjusting for inflation, according to estimates by economist Arthur Laffer, a former adviser to Ronald Reagan. The increase would more than double the tax investors pay on investments held longer than one year.

Poster Comment:

Ditto for income taxes. Suppose your wages your wages go up 400% but prices go up 1,000%. Your purchasing power was cut 60% but you were pushed into a higher tax bracket so your pay cut was really 65% or more.

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#1. To: Horse (#0)

"It does not take a majority to prevail, but rather an irate, tireless minority, keen on setting brush fires of freedom in the minds of men." -- Samuel Adams (1722-1803)‡

"Resistance to tyrants is obedience to God." -- Thomas Jefferson

ghostdogtxn  posted on  2023-03-17   6:19:58 ET  Reply   Trace   Private Reply  

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