President Biden has proposed a huge increase in an important tax rate for the highest income Americans. As part of what he calls the American Families Plan, he proposes to almost double the federal capital gains tax rate on those who earn more than $1 million a year. What tax rates are being proposed and when might higher rates take effect? Will these changes have a predictable and negative effect on the performance of the stock market? We will consider these and related questions.

Show Notes:

1 Rosenthal, Steven M. & Burke, Theo; “Who Owns US Stock? Foreigners and Rich Americans.”;Tax Policy Center; October 20, 2020; https://www.taxpolicycenter.org/taxvox/who-owns-us-stock-foreigners-and-rich-americans

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