Re: A “permanent” 15% capital gains rate.
Correction: the top cap gains tax rate has been permanently increased to 20% (up from 15%) for single filers with incomes above $400,000 and married couples filing jointly with incomes exceeding $450,000.
With inflation ravaging, just how long do you think it will be before the average $40k salary becomes $400k? Hint: pretty damn quick — 10 years at 26% inflation; 16 years at 15%
Inflation cannot take off, though, until the economy picks up. And with the drag of fedzilla, that isn’t likely to happen.
I actually had not seen that in any summary. If true, now we have a progressive capital gains tax. Terrible precident.