AUTHOR: TOWNEWEALTHMANAGEMENT.NET/BLOG 10/27/2021: Towne Wealth Management BLOG:
The Rich Get Richer…Not…
$1.75 trillion may be the new social spending package number after objections from Democratic moderates, according to MarketWatch, 10/26/2021. However, a new billionaire tax is being raised in its place as proposals for increases in income taxes and capital gain taxes on households worth at least $1 billion or having three straight years of income over $100 million dim… Further, Janet Yellen indicated on CNN, 10/24/2021, that they would also look at taxes on unrealized capital gains for these extremely wealthy individuals….Some pundits have suggested that such tax increases would simply drive Billionaires off of US shores….kind of a reverse-immigration plan, me thinks….
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Russell E. Towne, LPL Financial Advisor, is a registered representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.
The opinions expressed in this material do not necessarily reflect the views of LPL.