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Capital Gains may get Capitalized on Soon

“The fact is that we ought to start rewarding work, not just wealth,” Biden said in a February debate. He added that it’s “wrong” that billionaires pay lower rates on capital gains than employees do on their salaries.
Bloomberg Article:
https://bloomberg.com/news/articles/2020-10-16/election-news-biden-win-could-change-the-way-rich-pay-taxes-on-investment-gains?srnd=premium

Comments

  • ...Well, YA!
  • edited October 16
    Rarely mentioned in articles like this (or political commentary/speeches) is that the vast majority of people who take dividends and capgains will not be affected -- it's only targeted at those making $1M or more per year, but lots of pundits and commentators omit that part to make it sound worse and/or more widespread than it is.
  • Perhaps any violation of fungibility should be outlawed.
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