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Rich Americans Face Biden Tax Hike With Anger, Denial and Grief

  • Investors irked by plan for capital gains tax of up to 43.4%
  • The proposal strikes at the heart of widening U.S. wealth gap
Bloomberg business news
Biden to Propose Almost Doubling Capital Gains Tax for Wealthy
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Charles Myers was sitting in a first-class seat on a flight from New York to Dallas when his phone started blowing up Thursday. News had just broken that the wealthiest Americans could soon face a tax rate as high as 43.4% on gains from their investments.

The chairman of Signum Global Advisors wasn’t thrilled.