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Biden’s Blue Wave Capital Gains Bite

How much of an impact will the “Biden Capital Gains Tax” have on consumers’ wallets, the economy, and the stock market? Some fearmongers are calling the “Blue Wave” tax strategy a stake right through the heart of U.S. economic recovery! Really?

My father said to me when I was a young man, “Son, believe half of what you see, and none of what you hear.” He meant this to be instructional, by that, encouraging me to take a moment to review the facts. He would say, “facts are stubborn” to drive home the point.

According to the dqydj.com calculator, 99% of American households earn less than $488,849 per year. Therefore, Biden’s capital gains rate increase, if there is a Blue Wave, and Mr. Biden defeats the incumbent President and is able to enact tax reform, the target appears to be on the back of the top one-percent income households. So, as far as Biden’s Bite, I’d say it is more of a nibble with few teeth. For now.