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White House: Biden’s capital gains tax hike to affect only 0.3% of U.S.

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  The White House says the vast majority of Americans will not be affected by President Biden’s soon-to-be-announced capital gains tax increase.
The president is planning to propose nearly doubling taxes on capital gains to almost 40 percent for people earning more than one-million dollars. And his top economic aide, Brian Deese, says that will affect only three-tenths of one percent of U-S households.
The White House says the president wants to use the tax increases to pay for his American Families Plan proposal.

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