Biden literally has no idea what he is doing... ESPECIALLY in an election year.
https://www.kiplinger.com/taxes/bide...gains-tax-rate
And before you say "OMG IT'S JUST A TAX ON TEH RICH!" let me give you a little history lesson:
Federal income tax was first proposed in the early 1900's as a "tax on the rich"
The troubling part of Biden's tax plan is the unrealized gains... so you are paying taxes upon stuff you just own but has gone up in price.
So if you purchased a home for $300K and put some sweat equity into the home, bringing its value to $500K, suddenly you owe money on the net $200K gain.. even though you still own this home.
What a colossal fucking shitty proposal. Anyone who votes yes for it needs to be voted out of office.