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11/

Sounds good, right? But there's a catch... This change is FANTASTIC for the uber-wealthy.

For the 'merely' affluent taxpayer though? Not so much😕

Specifically, whereas Biden's proposed top rate didn't kick in until AGI exceeded $1 million, the bill would "re-align"...
12/

..the capital gains brackets with the ordinary income tax brackets (make them start at the same $ amounts).

Great for remembering where brackets begin, but...

...it means the top cap gains bracket would start at 'just' $400k for single filers and $450k for joint filers...
13/

So if you're income is $4 million and consists of a lot of capital gains, you have to be feeling pretty good right now.

But if your income is between $400k/$450k and $1 million and you have capital gains, you'd MUCH prefer the Biden plan to this bill (at least for this)
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