#16 Death by TAXES
Daniel Lee2021-08-18T21:45:36+00:00Hi everyone! This is Mr. Daniel. Welcome to this week's newsletter. President Biden just crashed the stock market Thursday on news that Biden may increase the capital gain taxes from the current limit of 20% to 39.6%. This increase in tax will be used to fund education and childcare. Why is this a big deal? For most of the history of income taxes, long-term capital gain taxes have been lower than regular income taxes. This policy may reverse this trend. The lower capital gain tax encourages Americans to save and invest but capital gain is also used by many wealthy Americans [...]