Row 5044

Row ID: 5044 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 5044 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

The Biden administration has presented its [revenue proposals for the 2025 fiscal year,](https://home.treasury.gov/system/files/131/General-Explanations-FY2025.pdf) which include increases to the capital gains and net investment income tax rates for those whose taxable income exceeds $1 million. (PDF pages 79 & 80, including footnote.) It is projected to [increase revenue by $289 billion](https://www.pgpf.org/blog/2024/04/president-bidens-budget-calls-for-raising-43-trillion-in-revenues-over-ten-years-heres-how) over 10 years. The additional stated purpose is to reduce wealth inequality.

Under the proposal, the two rate hikes together "would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent." That's up from 23.8 percent under current law and it would be the [highest such rate in 100 years.](https://www.atr.org/biden-calls-for-44-6-capital-gains-tax-rate-highest-capital-gains-tax-since-its-creation-in-1922/)

Historically, what have been the pros and cons of high marginal rates on capital gains and investment income? What impact have those rates had on markets, retirement accounts, and innovation? Is the projected revenue increase worth its potential cost to the economy?

FieldValue
text The Biden administration has presented its [revenue proposals for the 2025 fiscal year,](https://home.treasury.gov/system/files/131/General-Explanations-FY2025.pdf) which include increases to the capital gains and net investment income tax rates for those whose taxable income exceeds $1 million. (PDF pages 79 & 80, including footnote.) It is projected to [increase revenue by $289 billion](https://www.pgpf.org/blog/2024/04/president-bidens-budget-calls-for-raising-43-trillion-in-revenues-over-ten…
label r/neutralpolitics
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communityName r/NeutralPolitics
datetime 2024-04-25
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Raw Record

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  "text": "The Biden administration has presented its [revenue proposals for the 2025 fiscal year,](https://home.treasury.gov/system/files/131/General-Explanations-FY2025.pdf) which include increases to the capital gains and net investment income tax rates for those whose taxable income exceeds $1 million. (PDF pages 79 & 80, including footnote.) It is projected to [increase revenue by $289 billion](https://www.pgpf.org/blog/2024/04/president-bidens-budget-calls-for-raising-43-trillion-in-revenues-over-ten-years-heres-how) over 10 years. The additional stated purpose is to reduce wealth inequality. \n\nUnder the proposal, the two rate hikes together \"would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.\" That's up from 23.8 percent under current law and it would be the [highest such rate in 100 years.](https://www.atr.org/biden-calls-for-44-6-capital-gains-tax-rate-highest-capital-gains-tax-since-its-creation-in-1922/)\n\nHistorically, what have been the pros and cons of high marginal rates on capital gains and investment income? What impact have those rates had on markets, retirement accounts, and innovation? Is the projected revenue increase worth its potential cost to the economy?",
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  "datetime": "2024-04-25",
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