Brace For Higher Interest Rates - Biden's New Capital Gains Tax Goes For The Investor's Throat

Joe Biden's proposed tax hike to pay for his 'human infrastructure' bill will cost high-earning Americans in more than a dozen states upwards of 50 per cent on their long-term capital gains and other qualified dividends.

Nearly doubling the federal capital gains rate could discourage those making more than $1 million from investing in the stock market as it's increased from 23.8 per cent to 39.6 per cent, which would lower the GDP by 0.1 per cent and reduce federal revenue by around $124 billion over 10 years, according to the Tax Foundation.