If is successful in passed his massive capital gains tax rate hike Americans in 11 states will next year be paying over 50 percent on some of the profits when they sell off their assets.The president's 2025 budget proposal includes increasing the top marginal rate on long-term capital gains dividends to 44.6 percent mark, which is the highest ever since the tax was implemented a century ago.Many economic and tax experts agree that raising the capital gains tax this high would dis-incentivize investing and hurt the U.S. economy as the Biden administration tries to stick it to the rich.
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