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Capital Gains And Infrastructure Lead DC Debate

Capital Gains

Over the years I have often found it interesting in the two views of the world held by Wall Street and under the Capitol dome. On Thursday and today all my Wall Street contacts were asking about the “leaked” intent of President Biden to raise the capital gains tax rate to the same rate as ordinary income. The Biden proposal would raise the top personal rate from 37% to 39.6%.

First things first, is this news? In his campaign papers last year candidate Biden proposed exactly this ...

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