GOP Sen. Shelley Capito on reports of Biden’s capital gains tax hike plan

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  • CNBC Television published this video item, entitled “GOP Sen. Shelley Capito on reports of Biden’s capital gains tax hike plan” – below is their description.

    Investors are worried that President Joe Biden is about to hit them with the highest tax burden they’ve seen in more than a century. Various media reports indicate the president will propose taxing capital gains at the top ordinary tax rate, which would be 43.4% when including the current 3.8% on net investment income tax. The increase would apply to those earning $1 million or more. Sen. Shelley Moore Capito (R-W.Va.) joined “Squawk Box” on Friday to discuss why she does not support the proposal.

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    Joe Biden is an American politician serving as the 46th and current president of the United States. A member of the Democratic Party, he served as the 47th vice president from 2009 to 2017 under Barack Obama and represented Delaware in the United States Senate from 1973 to 2009.

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