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Enthusiast
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For most Americans this is a non-issue. We’re talking about the wealthy here. 
Rising Star
Current top bracket for long term cap gains is 20%. They are looking to convert to ordinary income rates which the top rate will be 39%. Obviously tax rates are incremental but some of the money will be taxed at 39% or essentially $400k on $1M
Rising Star
I get that most of us won’t be directly impacted by this but what worries me is the impact it may have on the markets based on tax planning the rich and hedge funds do. If they stop buying stocks and move to real estate for example then my portfolio will suffer.
Rising Star
That’s only true for principal residence but you also get that tax break from depreciation for 30 years. It will be interesting to see how creative people get with tax and estate planning.
Chief
99.7% of us do not make 1 million a year. The new capital gain tax hike (if passes) will apply to .03%
Pro
Yes but the people that drive the markets, the ones who do make that kind of money are going to shift strategies and that will impact everyone.