President Biden’s American Families Plan would raise capital-gains taxes and end a rule that has been a cornerstone of estate planning for generations of wealthy Americans.
The change—increasing the top capital-gains rate to 43.4% from 23.8% and taxing assets as if sold when someone dies—would upend the tax strategies of the very richest households. -
Despite this making a lot of sense in theory, I believe there is 0% possibilities of this being accepted.
I do see a rise in that tax rate but very likely to be in the 26-30% range. Im not even sure it would be a wise decision for USA to put close to 40% as that would incentivize to move capitals away from the country.
What is your outlook for taxes in the US over the next months?