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For the highest earners — those with taxable income above $1 million and investment income above $400,000 — the long-term capital gains tax rate could reach 44.6% with a combination of proposals.
Maximum long-term capital gains rates stood at around 25 percent after World War II, but rates began to rise following passage of the Tax Reform Act of 1969. The law, signed by Republican ...
Harris has proposed a long-term capital gains tax rate of 28% for those earning $1 million or more, which contrasts with Biden's 39.6% rate suggested in his fiscal 2025 budget.
From 1998 through 2017, tax law keyed the tax rate for long-term capital gains to the taxpayer's tax bracket for ordinary income, and set forth a lower rate for the capital gains. (Short-term capital gains have been taxed at the same rate as ordinary income for this entire period.) [ 16 ] This approach was dropped by the Tax Cuts and Jobs Act ...
Vice President Kamala Harris announced that the long-term capital gains rate for the ultra-rich should be 28% — a move that marked a split with President Joe Biden.
For individuals with taxable income of $400,000 per year or less ($450,000 for a married couple on a joint tax return, both thresholds to be indexed for inflation after 2013), [2] the tax rates for income, capital gains, and dividends remained at their 2003-2012 levels, instead of reverting to the higher rates from the expiration of the Bush ...
President Joe Biden proposed taxing unrealized gains for people worth over $100 million. ... While Biden proposed to move the long-term capital-gains tax rate to 39.6% for households with taxable ...
Harris’s proposal is well shy of the 44.6 percent rate proposed in a budget update from the Biden administration in July. ... long-term capital gains will be 28 percent under my plan, because we ...