Summary List Placement

A White House official has defended plans to propose a sharp rise in the top capital gains tax rate to 39.6%, saying the changes would only hit the richest 0.3% of Americans, according to a report.

A senior official in President Joe Biden’s White House told the Financial Times the wealthiest Americans had been growing disproportionately richer.

“Many, many of the returns at the very top are what they call above-market rates of return, rents and so on,” the official said. “Taxing the people who are doing extremely well in the economy is one way of asking details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com