Democratic presidential candidate Hillary Clinton will propose changes to capital-gains taxes designed to encourage cos. to put more emphasis on long-term growth, the Wall Street Journal reports, citing a campaign official without naming them.
- Clinton will unveil plan at speech later this week
- Under plan still being finalized, investments held for less than 1 year would continue to be taxed at regular income-tax rates, which can top out at 39.6% or more for highest earners
- For investments held a little longer, likely 2-3 years, current capital-gains tax rate of 23.8% for top earners would rise
- Clinton’s rate would be higher than proposal from President Obama earlier this year, which would tax highest earners 28%; campaign hasn’t ruled out taxing such investments at regular income-tax rate
- NOTE: Under current law, capital-gains rate for investments held for at least a year is 15% for middle-income investors, people with lowest incomes pay no tax on capital gains
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