Biden Wants the Richest to Help Out the Rest
President Joe Biden speaks about gun violence prevention in the Rose Garden of the White House in Washington on April 8.
Photographer: Brendan Smialowski/AFP/Getty Images
After one of the most prosperous decades in history for U.S. investors, President Joe Biden is ready to make the richest share their wealth.
He plans to propose almost doubling the capital gains tax rate for those who earn $1 million or more, ending a century-old precedent of taxing investments less relative to wages and salaries, Laura Davison and Allyson Versprille report.