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Biden’s main proposal is to have long-term capital gains and qualified dividends of individuals with taxable income of over $1 million “be taxed at ordinary rates, with 37 percent generally ...
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.
Under the Harris/Biden proposal, all households with more than $100 million in net assets would pay a minimum tax of 25% on their combined income and unrealized capital gains. This would most ...
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 ...
On Aug. 21, the Harris campaign erased the mystery, stating that the candidate fully supports Biden’s comprehensive tax program as presented in the administration’s fiscal year 2025 budget ...
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 ...
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 ...