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A Biden Win Would Transform How the Wealthy Invest Their Money

A Democratic administration could scrap techniques used for decades to shrink taxes on their investment gains.

Photographer: Sean Rayford/Getty Images

Wealthy investors are getting ready to overhaul their portfolios and revamp long-standing strategies if former U.S. Vice President Joe Biden and Democrats win big in November.

While Biden has rejected the wealth tax pushed by Democratic primary rivals Elizabeth Warren and Bernie Sanders, his proposals could seriously disrupt the many ways that rich Americans minimize — or altogether avoid — taxes on their investment gains.