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A capital gains tax hike probably won’t impact the stock market, but wealthy Americans are scrambling anyway

uncle sam taxes

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A Biden tax proposal sent a jolt through markets last week — and through wealthy Americans.

The White House is on the case, addressing the tax’s impact in a briefing yesterday. National Economic Council Director Brian Deese insisted in the briefing that it will touch very few Americans, and that the market has little to fear.

“Across a wide body of academic and empirical evidence, there is no evidence of a significant impact of capital gains rates on the level of long-term investment in the economy,” Deese said. 

President Joe Biden wants to raise taxes on America’s details ⇒

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