Discover and read the best of Twitter Threads about #americanfamilyplan
Most recents (3)
Under President Biden's tax plan, 13 states and D.C. would have a top combined capital gains tax rate at or above 50%:
56.7% CA
54.3% NY
54.2% NJ
53.3% OR
53.3% MN
52.4% DC
52.2% VT
50.7% HI
50.6% ME
50.4% CT
50.3% ID
50.2% NE
50.2% MT
50.0% DE
(58.2% NYC)
(57.3% Portland, OR)
56.7% CA
54.3% NY
54.2% NJ
53.3% OR
53.3% MN
52.4% DC
52.2% VT
50.7% HI
50.6% ME
50.4% CT
50.3% ID
50.2% NE
50.2% MT
50.0% DE
(58.2% NYC)
(57.3% Portland, OR)
President Biden’s #AmericanFamilyPlan will likely include a large increase in the top federal tax rate on long-term capital gains and qualified dividends, from 23.8% today to 39.6% for higher earners.
When including the net investment income tax, the top federal rate on capital gains would be 43.4%.
Rates would be even higher in many U.S. states due to state and local capital gains taxes, leading to a combined average rate of 48% compared to about 29% under current law.
Rates would be even higher in many U.S. states due to state and local capital gains taxes, leading to a combined average rate of 48% compared to about 29% under current law.
Top combined capital gains tax rates under President Biden’s tax plan:
56.7% -- California
54.3% -- New York
54.2% -- New Jersey
53.3% -- Oregon
53.3% -- Minnesota
taxfoundation.org/biden-capital-… @ericadyork @GS_Watson
56.7% -- California
54.3% -- New York
54.2% -- New Jersey
53.3% -- Oregon
53.3% -- Minnesota
taxfoundation.org/biden-capital-… @ericadyork @GS_Watson
President Biden’s #AmericanFamilyPlan will likely include a large increase in the top federal tax rate on long-term capital gains and qualified dividends, from 23.8% today to 39.6% for higher earners.
When including the net investment income tax, the top federal rate on capital gains would be 43.4%. Rates would be even higher in many U.S. states due to state and local capital gains taxes, leading to a combined average rate of nearly 49% compared to about 29% under current law.
BREAKING: A coalition of House & Senate Democrats—led by @SenSherrodBrown @JamaalBowmanNY @SenWarren @SenSanders w/@RonWyden—have teamed up to call on @POTUS to include long-overdue updates to Supplemental Security Income (SSI) in the #AmericanFamilyPlan 👇
@SenSherrodBrown @JamaalBowmanNY @SenWarren @SenSanders @RonWyden @POTUS The letter calls on @POTUS to #DemolishDisabledPoverty by including his promises on SSI in the next recovery package:
1) increase SSI’s sub-poverty-level benefits to at least 100% of the federal poverty level
2) raise SSI’s asset limit, which has been stuck at $2,000 since 1989
1) increase SSI’s sub-poverty-level benefits to at least 100% of the federal poverty level
2) raise SSI’s asset limit, which has been stuck at $2,000 since 1989
