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Democratic candidates’ proposed wealth, income taxes: who has the lowest and highest tax plan?

Source: inquirer.com - Feb 5, 2020

If a Democrat wins the White House in November, what happens to our taxes?

Short answer: The only leading candidate who might succeed in passing a wealth tax is former Vice President Joe Biden, depending on the makeup of Congress. And the stock market won’t like his nomination.

Current top tax rates are 40.2% for labor income (our paychecks) and 23.8% on investment income (our portfolios).

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Category: General Business