News / Article

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

Source: https://inquirer.com/business/2020-election-trump-warren-sanders-biden-capital-gains-taxes-wealth-tax-20200203.html - 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).

click source to read article

Category: General Business