Opinion |I'm a millionaire. Biden's plan to raise my taxes is a great idea. By morris_pearl
An opinion in the Wall Street Journal states that Biden's plan to raise taxes on the rich will adversely affect investing.It's time to finally raise taxes on the rich, and use the money to make the country stronger.This is an opinion column. The thoughts expressed are those of the author.
The centerpiece of the argument against increasing capital gains tax rates is that doing so will change how wealthy people invest. But as venture capitalist Alan Patricof It's true that inflation and the inability to fully deduct losses on investments will leave some wealthy investors paying more than they might otherwise, and that taxing capital gains in addition to levying corporate taxes could be interpreted as"double taxation," which further limits the earnings of rich stock owners. But that's kind of the point.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Queen will meet US President Joe Biden and First Lady Jill BidenThe monarch, 95, will host the US President and First Lady Jill Biden at Windsor Castle on Sunday 13 June
Read more »
Biden calls latest jobs report 'great news,' claims 'historic progress' in economic rebound
Read more »
Biden rejects another GOP infrastructure offerWhile the White House and Senate Republicans have spent weeks negotiating, both sides remain far apart on the top line, along with pay-fors and the definition of “infrastructure”
Read more »