President Biden has proposed increasing the top 23.8% capital gain rate to 43.4%, a staggering 82% increase. Then there is timing. As proposed, the rate hike is already in effect for sales after April 28, 2021. More refined tax proposals are probably coming, with even step up in basis in jeopardy.
Biden’s Retroactive 43.4% Capital Gain Tax? C’mon Man!
