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What Biden’s capital gains tax proposal could mean for your wallet – Fox Business

President Biden is expected to propose almost doubling the tax rate paid by wealthy investors when they sell stocks and other assets in his next big-ticket spending…

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President Biden is expected to propose almost doubling the tax rate paid by wealthy investors when they sell stocks and other assets in his next big-ticket spending bill. 
Under the forthcoming proposal, dubbed the American Families Plan, the capital gains tax rate could increase to 39.6% from 20% for Americans earning more than $1 million, a source familiar with the matter told FOX Business. Coupled with an existing Medicare surcharge, federal tax rates for the wealthy could climb as high as 43.4%…

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