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Dividend stocks to benefit from capital gains tax proposal

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For investors growing concerned that President Joe Biden will move to raise levies on investment gains, CNBC’s Jim Cramer on Tuesday offered a strategy to avoid the potentially higher tax geared toward the wealthy.

“If you’re worried about Biden’s plan to raise taxes on capital gains but not dividend income, well that’s not a reason to sell everything,” the “Mad Money” host said. “It’s a reason to buy dividend stocks.”

Biden could pitch the change, which would end the tax-favored status of capital gains for millionaires, as soon as this week. As reported, the proposal includes hiking the tax to 39.6% from 20%. The rate could hit 43.4% for the richest taxpayers.

“If the capital gains rate…



Source cnbc.com

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