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Gooddolphin

07/20/21 3:30 PM

#157175 RE: Dan8874 #157173

A Good problem to have.
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mfaphoto

07/20/21 5:32 PM

#157204 RE: Dan8874 #157173

Dan8874, unless you are an old timer, you bought your shares this year. That means you will pay the same as earned income. If you are an old timer and you have been holding more than a year by the last day of Dec. you will pay 15% for long term capital gains. If the Biden Tax Plan is passed, there will not be long and short term capital gains. All sales will count as earned income, so if you sell over $450K of stock next year you will pay the highest bracket amount, which will be 39% plus a 3.8% Medicare Surtax. If you sell this year and are in the highest bracket, you will pay 37% plus the 3.8% Surtax. Biden't tax plan aims to make the rich pay their fair share, instead of little or nothing, or less than the people who work for them. The money will also pay for infrastructure, dental,vision, and hearing coverage for Medicare, increased aid to families to pull kids out of poverty, and free community college for anyone. Sounds good to me. As a patriotic American, I want this country to be the best. Somebody has to pay for it. The middle class is tapped out. That leaves the rich, and newly rich (us), to pay. Welcome to the 1%!