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Biden thinks about maximum tax increases for the rich, bitcoin crash – Economy


Joe Biden is about to announce a tax increase for the rich, rocking the market. Yesterday, the Wall Street listing lost an average of 1%, Tokyo lost 0.57% this morning and Bitcoin fell below $ 50,000. In the seventh of eight sessions, the virtual currency lost 5.8% to about $ 48,596. JPMorgan and Tallbacken Capital Advisors LLC recently warned of the possibility of further bearishness in cryptocurrencies, following a record high of $ 64,870 on April 14.

Biden is expected to present his plans over the next few days, ahead of his speech in Congress. The new tax revenues will be used to fund education and child care, two expenditures Democrats have no intention of withdrawing. Tightening the tax burden is actually seen as a way to make the economy more equitable. Among the government’s proposals is a tax increase on capital gains, which could almost double for those making more than $ 1 million, to 39.6%. If you also add
Tax on investment income is given by Barack Obama and set at 3.8%, the rate is 43.4%.

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