US President-Elect Joe Biden delivers remarks before the holiday at The Queen in Wilmington, Delaware on December 22, 2020.
Alex Edelman | AFP | Getty Images
Stocks and taxes: what’s going to happen?
The Democrats’ control of Congress has shone a new spotlight on Biden’s tax proposals, particularly those that would affect stocks and bonds.
While Biden has repeatedly said he would not raise taxes on Americans earning less than $400,000 a year, he has proposed:
1) raising the marginal income tax rate from 37% to 39.6% for those making more than $400,000;
2) raising the corporate tax from 21% to 28%, and a 15% minimum book tax;
3) taxing long-term capital gains and qualified dividends at the…