Biden's Cap Gains Tax Hike for Millionaires Spooks Markets
01 mins 19 secs
President Joe Biden just proposed doubling the capital gains tax rate, which currently stands at 20%, for some of America's top earners. According to Bloomberg, federal tax rates could be as high as 43.4% for people earning more than a million dollars each year. As soon as reports of this tax hike came in, we saw stocks move sharply lower. Bitcoin also fell below $50,000 following the news.
For further information about Asset TV please contact:
570 Lexington Avenue, 20th floor New York, NY 10022 Office: +1 212 661 4111 [email protected]