Biden proposes the biggest capital gains tax in 100 YEARS

President 's budget proposal for next year includes the largest capital gains tax seen in the last century.

The proposal, released last month, notes that the administration wants to increase the top marginal rate on long-term capital gains dividends up to 44.6 percent, which would make the tax rate exceed 50 percent in states like , , New York and others.

Critics note that the idea will 'disincentivize investing' and could massively hurt U.S. industries like tech while further shrinking the middle class.

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