Forbes has published an article, Biden Wants To Limit The Capital Gains Tax Preference. History Shows It Will Be Hard, which discusses the origins and evolution of capital gains throughout US history. The article begins as follows:
President Biden wants to revamp the taxation of capital gains, but if history is any guide, it won’t be easy. The tax preference for capital gains turns 100 this year, making it nearly as old as the income tax itself. And while the preference has been revised and reformed many times, it’s survived nearly every attempt at outright repeal.
Click here to see full article: Biden Wants To Limit The Capital Gains Tax Preference. History Shows It Will Be Hard.
Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.