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Biden’s plan to fully tax capital gains is good policy

·3 min read
Biden’s plan to fully tax capital gains is good policy

President Biden has proposed taxing capital gains like ordinary income for those with incomes over $1,000,000. In addition to paying for his agenda, this proposal will make the federal income tax fairer, by ensuring that the wealthy pay their appropriate share of the tax bill, and more efficient, by eliminating the incentive to transform high-taxed ordinary income to low-taxed or untaxed capital gains.