photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, the stock market had been predicting that the Biden Administration would call for a 28% capital gains tax, so when the word came out last week that he wants a 43% capital gains tax, it triggered a stock sell off. A share of stock is simply worth its after-tax and after-inflation rate of return, so a higher capital gains tax (combined with and a higher corporate tax) translates into lower stock values, by definition.
Continue reading Biden Administration Declares War on Capital