Comments from White House adviser Brian Deese
- Deese confirms Biden will propose changes to capital gains tax for those who make more than $1 million
- Deese says change will only affect 0.3% of taxpayers
- Plan to treat capital gains as wages for top earners
- There is no evidence of a significant impact of capital gains rates on long term investment
A headline crossed that said Biden aims to equalize the treatment of gains and income but I believe it was in context. So the change is only on earnings above $1m.