Explainer: Capital gains tax hike targets wealthy investors
By STAN CHOE, AP Business Writer
Published: April 28, 2021, 2:45pm
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NEW YORK (AP) — After massive U.S. government spending helped send the stock market back to record heights, with even more potentially on the way, the bill may be coming due for the nation’s wealthiest investors.
President Joe Biden on Wednesday proposed to nearly double the tax rate that the highest-earning Americans pay on profits made from stocks and other investments.
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