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Wall Street Democrat Roger Altman on Biden’s capital gains tax plan

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Wall Street Democrat Roger Altman said Friday that long-term investors would not be deterred by Joe Biden’s plans to raise the capital gains tax rate if he defeats President Donald Trump in the November election. 

“I’ve been in finance a long time, and I’ve never seen any examples of people who don’t make investments which they think are good ones because the capital gains rate is a few points higher than otherwise it might be,” Altman said on CNBC’s “Squawk on the Street.” “I don’t believe that’s the world we live in.” 

Biden, the Democratic nominee, has proposed increasing the tax on long-term capital gains to 39.6% — the same top rate he has proposed for ordinary income — for…



Source cnbc.com

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